Mr. Speaker, I will try to address all of my colleague's points.
His point about income splitting is very significant. The Standing Committee on the Status of Women investigated this and found that single, unattached women were left out, as were single, unattached men in terms of pension splitting. This measure was only helping a very small group. Those at the top of the income group were benefiting while those who were living below the poverty line received absolutely nothing from this program.
In terms of income trusts, we would much rather see decent pensions for all Canadians. That can be achieved by the measures proposed by the Standing Committee on the Status of Women, with support from the Canadian Labour Congress. We believe the GIS should be increased by 15% and that there should be a doubling of CPP benefits.
I would point out that the tax cut introduced in January was $1.2 billion. This is for the most profitable corporations. Half of that would have lifted all seniors in Canada out of poverty.