Hon. Donald Neil Plett (Leader of the Opposition): Leader, my next question concerns the Canada Infrastructure Bank.

The Canada Infrastructure Bank CEO, Mr. Ehren Cory, appeared before the Senate’s National Finance Committee yesterday. Mr. Cory previously worked at McKinsey for 11 years. I’m sure the Trudeau government will tell us that is just a coincidence.

Honourable senators who were here in 2017 will remember that we were told repeatedly by the Trudeau government that for every dollar in federal investment, the Canada Infrastructure Bank would attract $4 to $5 from the private sector. Instead, it has failed to do so, and currently has a 1-to-1 ratio.

Mr. Cory told the committee yesterday:

. . . it will over the long term that we move toward that 4‑to-1 ratio. That’s an objective to move toward . . . That’s over decades.

I’ll repeat that, leader: It will take decades. Will you get rid of the failed and wasteful Canada Infrastructure Bank, and if so, when?

Hon. Donald Neil Plett (Leader of the Opposition): Senator Gold, let me start off by offering my sincerest condolences to you, your family and the family of your friend who passed away very suddenly and very unfortunately. Our thoughts and prayers are with you. I’ll be kinder in my questions to you.

Senator Gold, in June 2021, Royal Assent was given to Conservative MP Larry Maguire’s Bill C-208, which reduces the taxes paid when transferring family farms or small businesses to family members. The Trudeau government never supported it and, instead, created a lot of confusion around the bill after it was passed.

First, the Finance Department issued a press release saying they weren’t going to implement the legislation. Then, Minister Freeland changed her mind, and said she would introduce amendments in November 2021. When that didn’t happen, last year’s budget indicated they would consult on changes to Bill C-208. We have heard nothing since the consultation process ended in June of last year.

Senator Gold, will you give certainty to our farmers? What is the Trudeau government planning to do with Bill C-208?