Statement made on 10 April 2008 by Senator Tommy Banks (retired)
Hon. Tommy Banks:
Honourable senators, I will change the topic from the sublime — hockey — to the ridiculous — income tax.
My question is addressed to the Leader of the Government in the Senate and is entirely non-partisan. I have been assured of that over the past few weeks by the proceedings of the Standing Senate Committee on Banking, Trade and Commerce, which is considering Bill C-10. As all senators are aware, Bill C-10 contains provisions regarding the production tax credit that is available to Canadian filmmakers once a film has been completed. It is usually the only way in which a Canadian film producer can earn a return on investment.
In light of the testimony that has been given from all sides about the problem of that aspect of Bill C-10, and in light of the testimony that that aspect was missed by everyone on all sides in the House of Commons and that it was paid no attention to —
Senator Fox: They introduced it; they did not miss it.
Senator Banks: — will the minister undertake to tell us whether the government will entertain an amendment in order that that provision of the bill can be corrected?
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