Mr. Speaker, members of the NDP as well as the Liberal Party who have spoken previously to the bill today have talked about FATCA. FATCA would be unilaterally and automatically imposed on Canadian financial institutions and their clients as of July 1, 2014. Because of the provisions in this bill, Canada has seen significant exemptions and relief, including certain accounts that are exempt from FATCA. Financial institutions in Canada will not report any information directly to the IRS versus the CRA. There are several exemptions. This is done through international negotiations.
My question to my colleague opposite is this. Given that this would be imposed on us by a foreign government as of July 1, what would he do differently that is not in this bill?