Mr. Speaker, I would like to thank my colleague and friend from Rimouski-Neigette—Témiscouata—Les Basques for his excellent intervention.
As he indicated, there are so many elements to this omnibus budget bill. I would like the member's views on one that he talked about in passing. Canada's venture capital industry has warned that the changes to the labour-sponsored venture capital corporations could have dire consequences for the rejuvenation of our venture investment sector in Canada, critical to high-tech and bio-tech, the jobs of the future.
However, without any reason, it appears that the government is phasing out the federal tax credit for these labour-sponsored venture capital corporations.
I would like the member to elaborate, if he would, on why he thinks that has occurred and what the consequences might be.