Mr. Speaker, I heard with interest the member's assertion that the government's reduction of corporate income tax rates resulted in a reduction of corporate income tax revenues. This demonstrates two things: one, that he is not familiar with the budget or the fiscal tables; and, two, that the New Democrats misunderstand the impact of tax rate cuts. I know I am not supposed to use props so I will not. I am looking at page 92, chart 3.23 in the budget document, which demonstrates that there is a direct correlation between the reduction in rates and an increase in corporate income tax revenues that went from $30 billion in 2008 to about $48 billion, projected to go to that in 2018 as the rates fell.
Revenues have grown as the rates fell. That is because we unleashed the creative capacity of the Canadian private sector. Will the member not at least admit that corporate income tax revenues have increased, allowing us to spend more on important social priorities?