Mr. Speaker, I rise to present a petition to the Minister of Finance from the people of the northern territories.
Some 700 people signed the petition informing the Minister of Finance that the people of Canada's north have the highest cost of living of all Canadians. The northern residents tax deduction was instituted to help offset this high cost of living. The residents portion of the northern residence tax deduction has not increased since its inception 20 years ago while the cost of living for northern Canadians has continued to increase.
The petitioners call on the minister to increase the residents portion of the northern residents tax deduction by 50% and that this portion of the tax deduction be indexed in order to keep pace with inflation based on a northern inflation measurement.