Certainly, Mr. Chairman. I have the report on behalf of the Standing Committee on Finance.

Mr. Chairman, the Standing Committee on Finance reviewed Bill 22 on April 5, 1995. Members discussed the bill and agreed that it should be moved into committee of the whole for further discussion and action.

The total amount of the debts being forgiven by this bill is substantial, over $1.25 million. Standing committee Members understand that many of these losses were the result of bankruptcy or negotiated settlements with debtors and that the amounts are unrecoverable.

However, Members may have some questions regarding some of the items in this bill and we'll take this opportunity to raise them with the Minister. Thank you, Mr. Chairman.