The Globe and Mail in Canada reports:

Fresh from squeezing more tax dollars from income trusts, Finance Minister Jim Flaherty says Ottawa is scrutinizing offshore tax havens and "significant tax avoidance" by some Canadians.

At last count, Statistics Canada estimated Canadians have stashed $88-billion out of the country.

Mr. Flaherty wouldn't say whether Ottawa plans to crack down on offshore havens but said the Conservative government wants everybody to pay their fair share of taxes. "We are interested in broadening the tax base, and in tax fairness to Canadians, broadly defined," he told a Parliamentary finance committee.

I have little doubt that any estimate of funds out of the country is an underestimate. But whether it is or not, the obvious question is 'why has it taken you so long?'.

The answer, of course, is that Canada's previous PM, Paul Martin, had a liking for offshore. Let's hope the change of heart is real.