Industry committee  The Royal Commission on Taxation was started by Prime Minister Diefenbaker in 1962 and the commission ended in 1966. Then there was vigorous debate—you can look throughout the following six years—and it ended with comprehensive tax reform in 1972.

Industry committee  Absolutely.

Industry committee  Generally. I don't work on a day-to-day basis with multinationals. My specialty is private business owners, but I'm certainly aware of the tax implications.

Industry committee  Incomprehensible.

Industry committee  Well, there is a lot to add there, and I only have a little bit, but I could literally talk all day on a lot of the problems. I'll give you two quickies here. You're probably familiar, generally, with the new passive investment rules that were passed as a result of the July 18 private corporate tax proposals and, ultimately, what was landed on.

Industry committee  No question, yes.

Industry committee  Yes.

Industry committee  That's absolutely correct, yes.

Industry committee  Let's just say this. Would it be good for my business? Absolutely not. But would it be good for the country? Absolutely.

Industry committee  Yup.

Industry committee  My opinion is that common sense should prevail in most cases. Yes, in certain industries where heavy machinery and risky stuff are involved, there probably is a need for safety and regulatory regimes, but what about in a common-sense environment like an office? Come on. Yes, you may have risks of bookshelves falling or slippery floors or what have you, but do I need to hire expensive consultants and lawyers to tell me to clean up my act and have a $2 million fine if I don't produce a manual, or a $10,000 per day fine for not complying?

Industry committee  It's legal fees and having to hire so-called special consultants.

Industry committee  In order to comply with the law, you have to have somebody give you advice on how to comply with the law because the rules are so incomprehensible. I consider myself a pretty smart guy, but there's no way that I'd be able to do that myself. Also, I have better things to do with my time.

Industry committee  It's common sense. I have an office, right? In any traditional law firm or accounting firm, yes, there are safety issues, but do I need a rule to tell me how to take care of myself and how to put books on the shelf? I don't think so, but now I have to have a safety manual to do that.

Industry committee  Good morning. I have some prepared notes, which, I hope, you have in front of you. Thank you for the opportunity to appear before the committee to discuss this important topic. As I understand the mandate, the committee is to identify areas for legislative and regulatory modernization and improved international co-operation with the goal of identifying areas for improved efficiency to reduce costs to regulated parties, support international alignment and trade, and create flexible pathways for innovative products and processes to come to market while protecting the health and safety of Canadians.