Senator Gold, as you know, there has been absolutely wonderful news in the fight against overseas and corporate tax evasion because American President Biden has made it a top priority of his government.

In Canada, in the recent budget, we had the news that we were going to establish a beneficial ownership registry — a transparent public registry — which is excellent news as well. These are significant developments in the fight against overseas tax evasion.

In the budget, the government announced that they would be spending $2.1 million to establish that registry. Could you inquire and report back to the Senate how that money will be spent and what it will be used for?

My second question pertains to the same registry. The government announced that it would be established by 2025. Can you indicate why it would take that long and what steps could be undertaken to reduce that time period and report back to the Senate on that as well?