Hon. Céline Hervieux-Payette:

Honourable senators, my question is for the Leader of the Government in the Senate. Last week, Canadian banks announced unprecedented and, more importantly, unparalleled profits compared to any other sector in the Canadian economy. Accordingly, the boards of directors of those financial institutions have authorized bonuses worth hundreds of millions of dollars, nearly 30 per cent higher than last year. Meanwhile in Europe, British Prime Minister Brown and French President Sarkozy have announced plans to tax any excessive bonuses paid to executives.

Does the Conservative government plan to tax these bonuses or the institutions that are paying them?

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