February 09, 2007 07:18 pm
Email from CAITI--February 9, 2007
Dear CAITI member
Since we launched CAITI on January 15, 2007, we have been very busy on behalf of
On Jan. 15 we launched Phase 1 of our website, www.caiti.info
and have had a
tremendous response to our membership drive.
As Parliament resumed on Monday Jan 29 and Tuesday marked the start of the
Public Hearings with the Standing Committee on Finance, CAITI ran full page ads
(see attached) on the theme of transparency and accountability.
These ads appeared in Ottawa's Hill Times (back cover), and in the main sections
of the Ottawa Citizen and National Post (to view please go to http://www.caiti.info/resources/redacted.pdf
). We also ran a series of "banner
ads" during the week in the National Post and La Presse, that featured our new
toll-free membership number for those without internet access.
CAITI was instrumental in providing needed momentum to bring about these public
hearings, as was the work of many of our members' letter-writing campaigns to Mr
Harper, Mr Flaherty and their local MPs.
CAITI CEO Brent Fullard was invited to present CAITI's position at the hearings,
which he did on Tuesday Jan 30. The documents presented by CAITI are all
available on our website under Public Hearings.
While in Ottawa, Brent was able to meet briefly with Stephane Dion, Michael
Ignatieff, Ralph Goodale and Liberal Finance Critic John McCallum and Liberal
MPs Jim Peterson and Paul Szabo. In addition Brent met Jack Layton and NDP
Finance Critic Judy Wasylycia-Leis, and Green Party president Elizabeth May. At
the hearings themselves, Brent introduced himself to Jim Flaherty but Flaherty
was unwilling to engage in any meaningful dialogue or substantiate the basis for
his repeated comments about the existence of a "tax loophole", an oft repeated
phrase in Flaherty's scripted comments before the Finance Committee.
Following the hearings CAITI ran another full page ad in the National Post on
the theme of the false allegations of tax leakage.(to access please go to http://www.caiti.info/resources/CAITI_fullpage.pdf
). Meanwhile many of CAITI's
US investor members have begun writing to the US Secretary of the Treasury,
requesting that the Secretary not respond favourably to Flaherty's call for
greater free flow of investment capital between our two countries.
These US investors are warning the US Treasury Secretary that there are
unwarranted risks presently associated with the Canadian capital markets under
the current Canadian government that make such an arrangement inappropriate at
present, as the newly imposed tax regime is wholly unsubstantiated. These US
investors are not challenging the Canadian government's right to introduce new
tax measures, but feel these Measures need to be substantiated first, given the
severe financial impact to investors on both sides of the border. US investors
who wish additional information on this initiative should contact [email protected]
and we would be pleased to provide you with sample letters.
Next week the public hearings continue, this time with testimony from those most
adversely affected, namely investors. There will be testimony Provided by four
individuals who are members of CAITI. We understand these proceedings will be
available on Parlvu. We recommend that you view the hearings on Parlvu rather
than ROB TV, to ensure full coverage of the testimony that is free of commercial
interruption. ( http://parlvu.parl.gc.ca/parlvuen-ca/
We look forward to implementing Phase 2 of our website that will make the site
more interactive with the start up of the Member Vox Box and a Ticker tape on
the home page to alert visitors to up to the minute events.
All of these initiatives have been made possible through your generous support
and for that we thank you.
In closing we encourage you to invite your friends family and co- workers to
join CAITI, as membership fees are optional. As you know, we have two categories
of membership for individuals. Investor Members and Concerned Canadians. Thank
To join: www.caiti.info
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