Madam Speaker, I had the benefit of being in the same finance committee meeting as my hon. colleague this morning where I heard the same evidence about the capital gains inclusion rates. Of course, most of what my hon. colleague has just said in here was simply contradicted by the evidence, including that there is zero evidence that the capital gains inclusion would have any negative effect on job creation in this country.
The member seems to be opposed to raising the capital gains inclusion rate. I am wondering if he can explain why the Mulroney Conservative government raised the capital gains inclusion rate in 1988 from 50% to 66.67%, and then again, in 1990, to 75%. Were the Conservatives wrong about the capital gains inclusion rate then, or are they wrong now?