Bill C-15 (Historical)

Budget Implementation Act, 2016, No. 1.

An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2016 and other measures

Part 1 implements certain income tax measures proposed in the March 22, 2016 budget by
(a) eliminating the education tax credit;
(b) eliminating the textbook tax credit;
(c) exempting from taxable income amounts received as rate assistance under the Ontario Electricity Support Program;
(d) maintaining the small business tax rate at 10.‍5% for the 2016 and subsequent taxation years and making consequential adjustments to the dividend gross-up factor and dividend tax credit;
(e) increasing the maximum deduction available under the northern residents deduction;
(f) eliminating the children’s arts tax credit;
(g) eliminating the family tax cut credit;
(h) replacing the Canada child tax benefit and universal child care benefit with the new Canada child benefit;
(i) eliminating the child fitness tax credit;
(j) introducing the school supplies tax credit;
(k) extending, for one year, the mineral exploration tax credit for flow-through share investors;
(l) restoring the labour-sponsored venture capital corporations tax credit for purchases of shares of provincially registered labour-sponsored venture capital corporations for the 2016 and subsequent taxation years; and
(m) introducing changes consequential to the introduction of the new 33% individual tax rate.
Part 1 implements other income tax measures confirmed in the March 22, 2016 budget by
(a) amending the anti-avoidance rules in the Income Tax Act that prevent the conversion of capital gains into tax-deductible intercorporate dividends;
(b) qualifying certain costs associated with undertaking environmental studies and community consultations as Canadian exploration expenses;
(c) ensuring that profits from the insurance of Canadian risks remain taxable in Canada;
(d) ensuring that the dividend rental arrangement rules under the Income Tax Act apply where there is a synthetic equity arrangement;
(e) providing specific tax rules in respect of the commercialization of the Canadian Wheat Board, including a tax deferral for eligible farmers;
(f) permitting registered charities and registered Canadian amateur athletic associations to hold limited partnership interests;
(g) providing an exemption to the withholding tax requirements for payments by qualifying non-resident employers to qualifying non-resident employees;
(h) limiting the circumstances in which the repeated failure to report income penalty will apply;
(i) permitting the sharing of taxpayer information within the Canada Revenue Agency to facilitate the collection of certain non-tax debts; and
(j) permitting the sharing of taxpayer information with the Office of the Chief Actuary.
Part 2 implements certain goods and services tax/harmonized sales tax (GST/HST) measures proposed in the March 22, 2016 budget by
(a) adding insulin pens, insulin pen needles and intermittent urinary catheters to the list of GST/HST zero-rated medical and assistive devices;
(b) clarifying that GST/HST generally applies to supplies of purely cosmetic procedures provided by all suppliers, including registered charities;
(c) relieving tax to ensure that when a charity makes a taxable supply of property or services in exchange for a donation and an income tax receipt may be issued for a portion of the donation, only the value of the property or services supplied is subject to GST/HST;
(d) ensuring that interest earned in respect of certain deposits is not included in determining whether a person is considered to be a financial institution for GST/HST purposes; and
(e) clarifying the treatment of imported reinsurance services under the GST/HST imported supply rules for financial institutions.
Part 2 also implements other GST/HST measures confirmed in the March 22, 2016 budget by
(a) adding feminine hygiene products to the list of GST/HST zero-rated products; and
(b) permitting the sharing of taxpayer information in respect of non-tax debts within the Canada Revenue Agency under certain federal and provincial government programs and in respect of certain programs where information sharing is currently permitted under the Income Tax Act.
Part 3 implements certain excise measures proposed in the March 22, 2016 budget by
(a) ensuring that excise tax relief for diesel fuel used as heating oil or to generate electricity is targeted to specific instances; and
(b) enhancing certain security and collection provisions in the Excise Act, 2001.
Part 3 also implements other excise measures confirmed in the March 22, 2016 budget by permitting the sharing of taxpayer information in respect of non-tax debts within the Canada Revenue Agency under certain federal and provincial government programs and in respect of certain programs where information sharing is currently permitted under the Income Tax Act.
Division 1 of Part 4 repeals the Federal Balanced Budget Act.
Division 2 of Part 4 amends the Canadian Forces Members and Veterans Re-establishment and Compensation Act to, among other things,
(a) replace “permanent impairment allowance” with “career impact allowance”;
(b) replace “totally and permanently incapacitated” with “diminished earning capacity”;
(c) increase the percentage in the formula used to calculate the earnings loss benefit;
(d) specify when a disability award becomes payable and clarify the formula used to calculate the amount of a disability award;
(e) increase the amounts of a disability award; and
(f) increase the amount of a death benefit.
In addition, it contains transitional provisions that provide, among other things, that the Minister of Veterans Affairs must pay, to a person who received a disability award or a death benefit under that Act before April 1, 2017, an amount that represents the increase in the amount of the disability award or the death benefit, as the case may be. It also makes consequential amendments to the Children of Deceased Veterans Education Assistance Act, the Pension Act and the Income Tax Act.
Division 3 of Part 4 amends the sunset provisions of certain Acts governing federal financial institutions to extend by two years, namely, from March 29, 2017 to March 29, 2019, the period during which those institutions may carry on business.
Division 4 of Part 4 amends the Bank Act to facilitate the continuance of local cooperative credit societies as federal credit unions by granting the Minister of Finance the authority to provide transitional procedural exemptions, as well as a loan guarantee.
Division 5 of Part 4 amends the Canada Deposit Insurance Corporation Act to, among other things, broaden the Corporation’s powers to temporarily control or own a domestic systemically important bank and to convert certain shares and liabilities of such a bank into common shares.
It also amends the Bank Act to allow the designation of domestic systemically important banks by the Superintendent of Financial Institutions and to require such banks to maintain a minimum capacity to absorb losses.
Lastly, it makes consequential amendments to the Financial Administration Act, the Winding-up and Restructuring Act and the Payment Clearing and Settlement Act.
Division 6 of Part 4 amends the Office of the Superintendent of Financial Institutions Act to change the membership of the committee established under that Act so that the Chairperson of the Canada Deposit Insurance Corporation is replaced by that Corporation’s Chief Executive Officer. It also amends several Acts to replace references to that Chairperson with references to that Chief Executive Officer.
Division 7 of Part 4 amends the Federal-Provincial Fiscal Arrangements Act to authorize an additional payment to be made to a territory, in order to take into account the amount of the territorial formula financing payment that would have been paid to that territory for the fiscal year beginning on April 1, 2016, if that amount had been determined using the recalculated amount determined to be the gross expenditure base for that fiscal year.
Division 8 of Part 4 amends the Financial Administration Act to restrict the circumstances in which the Governor in Council may authorize the borrowing of money without legislative approval.
Division 9 of Part 4 amends the Old Age Security Act to increase the single rate of the guaranteed income supplement for the lowest-income pensioners by up to $947 annually and to repeal section 2.‍2 of that Act, which increases the age of eligibility to receive a benefit.
Division 10 of Part 4 amends the Special Import Measures Act to provide that a finding by the President of the Canada Border Services Agency of an insignificant margin of dumping or an insignificant amount of subsidy in respect of goods imported into Canada will no longer result in the termination of a trade remedy investigation prior to the President’s preliminary determination. It also provides that expiry reviews may be initiated from a date that is closer to the expiry date of an anti-dumping or countervailing measure and makes amendments related to that new time period.
Division 11 of Part 4 amends the Pension Benefits Standards Act, 1985 to combine the authorities for bilateral agreements and multilateral agreements into one authority for federal-provincial agreements, and to clarify that federal-provincial agreements may permit the application of provincial legislation with respect to a pension plan.
Division 12 of Part 4 amends the Employment Insurance Act to, among other things,
(a) increase, until July 8, 2017, the maximum number of weeks for which benefits may be paid to certain claimants in certain regions;
(b) eliminate the category of claimants who are new entrants and re-entrants; and
(c) reduce to one week the length of the waiting period during which claimants are not entitled to benefits.
Division 13 of Part 4 amends the Canada Marine Act to allow the Minister of Canadian Heritage to make payments to Canada Place Corporation for certain celebrations.
Division 14 of Part 4 amends the Jobs, Growth and Long-term Prosperity Act to authorize the Minister of Infrastructure, Communities and Intergovernmental Affairs to acquire the shares of PPP Canada Inc. on behalf of Her Majesty in right of Canada. It also sets out that the appropriate Minister, as defined in the Financial Administration Act, holds those shares and authorizes that appropriate Minister to conduct, with the Governor in Council’s approval, certain transactions relating to PPP Canada Inc. Finally, it authorizes PPP Canada Inc. and its wholly-owned subsidiaries to sell, with the Governor in Council’s approval, their assets in certain circumstances.
Division 15 of Part 4 amends the Canada Foundation for Sustainable Development Technology Act to modify the process that leads to the Governor in Council’s appointment of persons to the board of directors of the Canada Foundation for Sustainable Development Technology by eliminating the role of the Minister of Natural Resources and the Minister of the Environment as well as the consultative role of the Minister of Industry from that process. It also amends the Budget Implementation Act, 2007 to provide that a sum may be paid out of the Consolidated Revenue Fund to the Foundation on the requisition of the Minister of Industry and to clarify the maximum amount of that sum.

Budget Implementation Act, 2016, No. 1

[Matthew Dubé, NDP, Beloeil—Chambly, QC]

Mr. Speaker, I thank my colleague for her speech.

However, I have a question for her about the children's fitness tax credit. I agree with her that it is not a good thing that the Liberals are eliminating that tax credit without replacing it with another plan to encourage physical activity.

At the same time, I placed several written questions on the Order Paper about that tax credit in the previous Parliament to ask the Conservative government at the time whether it had studies to show that the tax credit had actually helped young people who were not already participating in sports to do so. Unfortunately, every time I asked the question, I was told that no such studies existed.

Can the member tell me on what grounds she is claiming that this tax credit actually encouraged young people, poor young people or those who were not already participating in sports, to do so?

[Kellie Leitch, Conservative, Simcoe—Grey, ON]

Mr. Speaker, actually there is data. I encourage him to go on PubMed and look it up. It shows that the implementation of these kinds of tax-free or positive incentives to have families and children participate show that more children participate. That is why it is so disappointing that the Liberal government has eliminated the children's fitness tax credit. Not only was it a tax credit for some families, but it was a subsidy for other families who were not eligible for a tax credit. Every Canadian child benefited from it.

I am happy to instruct the member that if he would like to look it up on PubMed, there are several articles published on this. However, let us be frank. This is actually about Canadian kids and the Liberal government abandoning them at a time when they need encouragement to get out there and play, to get on the playground. We know that is good for Canadian children's health.

[Ken Hardie, Liberal, Fleetwood—Port Kells, BC]

Mr. Speaker, there seems to be a bit of a contradiction in the Conservative's approach. We have heard from time to time, on other matters, that parents should be left to decide for themselves how to spend their money. That was the argument they had against any kind of mandated child care. Certainly, one would have to agree that the Canada child benefit, by replacing all of these very directive boutique tax cuts, in fact does precisely that. Not only that, it does it tax-free, and it puts more money in the pockets of Canadians.

Therefore, given that people could use the Canada child benefit to replace all of these boutique tax cuts, would the hon. member not agree that families are actually better off with more flexibility and more money in their pockets?

[Kellie Leitch, Conservative, Simcoe—Grey, ON]

Mr. Speaker, I guess what I have issue with is that our initiatives actually impacted every Canadian family and every Canadian child. As the Liberals will say again and again themselves, only 9 out of ten actually benefit from what they are doing.

As my colleague earlier mentioned, one can be in a family, maybe a nurse or a teacher, and these individuals do not even benefit from what the Liberal government is doing now.

What our party focused on was making sure that every single Canadian family benefited. Every single Canadian family had more money back in their pockets, as opposed to what the Liberal government is doing, which is augmenting our debt and deficit, taking that money out of their pockets and giving it to the Government of Canada.

I think Canadians should have that money back in their pockets so that they can make great decisions for their families.

[Kyle Peterson, Liberal, Newmarket—Aurora, ON]

Mr. Speaker, I rise today to speak in favour of budget 2016, and specifically Bill C-15.

At the outset, I want to let this House know how proud I am of this budget, and how proud I am to be part of a government that believes in Canada, believes in Canadians, and believes in restoring hope and rewarding hard work.

This government is taking on what the past government could not, which is giving Canadians relief where it is needed most and removing measures that provided little to no help to many Canadians.

Investment is desperately needed, and it is needed now. Canada has the lowest debt-to-GDP ratio of any G7 country, and interest rates are at historic lows. Now is the ideal time for Canada to invest in its future success.

The strategic and smart investments in budget 2016 will strengthen and expand the middle class, reduce inequality among Canadians, and what I think is especially important, position Canada for sustained economic growth for years to come.

There are five important points that I would like to make in the House today about Bill C-15. One is the elimination of the boutique tax credits. Second is the Canada child tax benefit, which will help more people, tax-free. Third, I will talk a little about much-needed help for seniors. Fourth, I will talk about connecting people with their tax benefits more efficiently and, last but not least, support for veterans.

We speak a lot about fairness in this House: fairness in our marketplace, for our constituents, and fairness throughout this great country. However, in the past, this fairness was hindered by promises that were just an illusion for many Canadian families.

The past government created a series of boutique tax credits. These were many small, seemingly significant benefits that were designed to help Canadians, but frankly were simply smoke and mirrors. There were tax credits, like the children's fitness tax credit and the children's art tax credit, which appear at first glance to help all families. However, families quickly realized that they only provided a 15% tax credit on the first $500 for families who could already afford these activities. It did nothing for those families who could not afford the activities in the first place.

For many Canadian families, the reality is that after food, shelter, and all other necessities, little is left over to help their children become more involved in the community through extracurricular activities. This means that those who needed it most were unable to garner that support.

Bill C-15 is one of the first steps this government is taking to better distribute benefits and programs more fairly to those who need it the most. That means removing the boutique tax credits and ensuring that support does go to those who need it, the low and medium-income families of Canada.

I think we can all agree that it is essential that Canada invest in its children. This government is also working hard to distribute money to those who need it most through the new Canada child benefit.

Canada's existing child benefit system is complicated, and it is not tax-free nor income-tested. The system set forth by the previous government is flawed and ultimately inadequate in meeting the demands of so many Canadian families. Once again, it does not target those who need it the most.

Our government will focus on giving Canadian families more money to help with the high cost of raising their children by replacing the current complicated system with the new CCB. This new system will provide a maximum annual benefit of up to $6,400 per child under the age of six, and up to $5,400 per child for those aged six through 17. Families with less than $30,000 in net income will receive the maximum benefit.

With the introduction of this much better targeted Canada child benefit, about 300,000 fewer children will be living in poverty by 2017. There will be 300,000 young Canadians with greater opportunity and greater hope for their future.

This government has also made a clear commitment to improving the lives of seniors. A key element of this commitment is improving the quality of life for seniors through strengthening public pensions and increasing social infrastructure funding for seniors living.

The government would make significant new investments to support seniors in their retirement years. These increased benefits would ensure that Canadian seniors have a dignified, comfortable, and secure retirement. While Canada's retirement income system has been successful in reducing the incidence of poverty among Canadian seniors, many seniors continue to be at risk of living in poverty.

Budget 2016 has committed to increasing the guaranteed income supplement top-up benefit to $947 annually for the most vulnerable single seniors, which would support those seniors who rely almost exclusively on old age security and the guaranteed income supplement. Our senior population is growing, and this government understands that every individual deserves a retirement that is safe, affordable, and ultimately, sustainable for years to come.

Not only would these benefits be available to those who need it most, but this government has also made it clear that it wants all Canadians to be aware of tax benefits for which they qualify. While the tax system seems overwhelming and daunting to so many Canadians, this government would increase accessibility through outreach and simplified tax return processes. Through proactive outreach, Canadians are more likely to know of and collect the benefits they deserve.

With fewer slips and credits to claim, Canadians' tax returns would be simpler. This reflects a new approach for government, one that offers immediate help for those who need it most and helps to set the course for growth for all Canadians.

Budget 2016 is an ambitious long-term plan to strengthen the heart of Canada's economy, but I also want to highlight the commitment to veterans that is found in this implementation bill. I think we can all agree in the House that the government has a sacred obligation to veterans, an obligation we must meet with respect, gratitude, and appreciation. Our brave veterans have dedicated their lives to the defence of our great nation, and they are worthy of our unwavering support. We will give back to our veterans, who have given so much in service to all Canadians. The budget would restore critical access to services for veterans and ensure the long-term financial success of disabled veterans.

Once again, I am proud to support this budget and encourage all members of the House to vote in favour of Bill C-15. By investing in those who need it most, we will make vast improvements in the lives of so many Canadians. Support for our children, support for our seniors, and support for our veterans are important to all Canadians.

Further, budget 2016 is a clear step toward a prosperous future. It offers immediate help to those who need it most and lays the groundwork for sustained, inclusive economic growth that will benefit Canadian families for years to come. When Canadians have more money to save, more money to invest, and more money to grow our economy, everyone benefits.

Making investments in these critical areas will be great for all Canadians. I urge all members in the House to support Bill C-15.

[Peter Van Loan, Conservative, York—Simcoe, ON]

Mr. Speaker, I listened with interest to the hon. member for Newmarket—Aurora. He indicated that tax credits like the sports and fitness tax credit had to be eliminated in order to pay for the fiscal measures, the tax plan, of the Liberal Party. However, during the last election campaign when Liberals went to Canadians to ask for their votes, that is not what they told them. They told them that they were going to pay for it through a number of specified measures: the elimination of the universal child care benefit, which they are doing, the establishment of a new high tax bracket, which they have done, and the elimination of income splitting, which is also happening. All of those tax grabs were going to take place. That was going to finance their plan, and that was it.

Nowhere in their platform did they say anything about eliminating the sports and fitness tax credit for children or eliminating the children's arts credit. No, they did not tell Canadians that. They did not tell Canadians that they planned to eliminate the textbook tax credit. They did not tell Canadians they planned to eliminate the education tax credit. All of those things were to be untouched. They were not necessary to pay for this plan. However, today we are hearing a new tune, that they actually were necessary to pay for their plan.

Why is it that they told Canadians something totally different about the tax hikes they had in mind during the election campaign and then hit them with a surprise whole second set of tax hikes after the election to pay for promises Conservatives had said were not affordable?

[Kyle Peterson, Liberal, Newmarket—Aurora, ON]

Mr. Speaker, the member's riding is just north of my riding of Newmarket—Aurora. If he wants to talk about the election and what was said, let me tell the House what I heard when I was knocking on doors in Newmarket—Aurora. I heard families complaining that they could not afford to put their children in sports. How is the tax benefit going to help them? People with children six, seven, and eight years old could not even afford to put their kids in basketball or hockey or baseball.

The member said here is a tax credit. All of us know that tax credits do not work if we do not have any money in our pockets to pay for a service to begin with. That is the problem with the member's way of thinking. That is the problem with his former government's way of thinking. The Conservatives think a tax credit will solve everything. We all know that the Conservative government's boutique tax credits were political gimmicks that helped no one but the Conservative Party.

I was happy to talk to the people of Newmarket—Aurora. I was happy to tell them that what we need more than tax credit gimmicks is money for young families so their children can play the same sports as other families' children play. Just because they do not have enough money, their children should not be denied that opportunity and the joy of being a child.

I am happy to stand with a government that will make that more possible when this government—

[The Deputy Speaker, Bruce Stanton]

The hon. member for Courtenay—Alberni.

[Gord Johns, NDP, Courtenay—Alberni, BC]

Mr. Speaker, before I get started, I want to send our condolences and our thoughts to the people of Fort McMurray. There are many people in Courtenay—Alberni who have family members there and who are affected by that horrible situation. I want to thank the members who have come from Alberta to make sure those people are represented today.

I want to thank the member for talking about inequality and those who need a hand and a lift up. We talk about gimmicks. I worry about the promises of tax breaks for the middle class, gimmick tax cuts that 17.9 million Canadians would not benefit from, and a promise to reduce taxes for small business from 11% to 9%.

Today I heard members across the floor say things like small business owners are not good fiscal money managers and they are tax cheats. It worries me when I hear things like that. These are our neighbours. These are the economic drivers of our communities. That is not how we should be talking about the people who built our communities, who donate to our local community organizations, who volunteer, like volunteer firefighters or auxiliary coast guard people. If we make promises to support small business, then we should follow through with those promises. We cannot have a healthy community with a weak business community.

Would the member apologize to the small business people in his community for the broken promise the Liberals made to small business people? Will the other members go home to their communities and apologize for that broken promise?

[Kyle Peterson, Liberal, Newmarket—Aurora, ON]

Mr. Speaker, let me tell the member about the small businesses in my riding. I was a member of the Newmarket Chamber of Commerce long before I had political dreams or aspirations, so I know many small businesses in Newmarket and Aurora. The chambers of commerce support this budget.

The member should not tell me that we do not support small business. We on this side of the House do not need to take lectures about supporting small business from anybody. We support small businesses. We support family businesses. We also support anybody who is working hard.

Nine million Canadians will receive the middle class tax cuts. That is not insignificant.

We can all agree that small and medium-size enterprises are the backbone of our economy. There are so many great entrepreneurs all over Canada, especially in Newmarket—Aurora, and we are pleased to support them.

[Leona Alleslev, Liberal, Parliamentary Secretary to the Minister of Public Services and Procurement]

Mr. Speaker, our government has tabled its first budget, and as you have seen, we are following through on the commitments we have made to Canadians. The budget implementation act no. 1 is a critical step toward revitalizing the economy and to providing support to the middle class and creating the conditions for long-term growth.

We would do this by making significant investments in infrastructure, with over $60 billion over the next 10 years in public transit, green infrastructure, and social infrastructure. We would do this through the introduction of the Canada child benefit. We would do this by providing help to our most vulnerable seniors.

Canada is facing a difficult economic situation. We know that. We also know that Canada is coming off 10 years of weak economic growth, and we are taking steps to address that at the same time as we are creating opportunities for the middle class and for all Canadians, for jobs, for affordable living arrangements, and for new places to work and rehabilitative places to play. As we lay the foundation for long-term and sustained growth, we are also looking at the immediate needs of the country and its citizens, which our budget addresses.

As we have committed, we would be investing in three strategic areas: public transit, green infrastructure, and social infrastructure. Everyone in this room knows that there are significant benefits to infrastructure investments in the short, medium, and long term. Well-planned investments in infrastructure generate economic growth, create jobs, and leave a lasting legacy for Canadians. Infrastructure is the foundation that shapes our communities making them more liveable and sustainable, and providing the places where we want to live, work, and play.

Our infrastructure investments must be made strategically, collaboratively, and with a long-term vision. They need to focus on projects that are not only shovel-ready, but also shovel-worthy. All orders of government have a role to play in building strong communities and a strong country.

The Minister of Infrastructure and Communities worked collaboratively with government partners and indigenous communities, as well as stakeholder and municipal association partners. Thanks to their input and their work, we have an infrastructure plan that would support the long-term and short-term needs of the country. As we implement the short-term aspects of this plan, it would be through collaboration with these same partners that we would be successful at rehabilitating, recapitalizing, and renewing the infrastructure we have.

By focusing on repairing our existing infrastructure, we can fix what we have now instead of delaying and paying more to fix it later. These investments are critically important to improving the lives of middle-class Canadians. They would make it easier to get around our country, to find jobs, and to build a future. However, it is far from the only thing we would do to help the middle class.

The Canada child benefit, which I mentioned earlier, would be the most significant development in this country's social policy in a generation. It would be far more generous than the universal child care benefit it replaces, giving nine in 10 Canadian families more money in their pockets each month. On average, families would receive $2,300 more per year. That is more money to spend on sports programs, school supplies, music lessons, and trips to the museums. Unlike the universal child care benefit, our new Canada child benefit would be tax-free.

Our government believes strongly that Canadians should not have to pay taxes on benefits given to them by their government to help improve their children's lives. The CCB would also be simpler than the universal child care benefit. The previous government's hodgepodge of child care benefits was confusing, and that made it difficult to access for far too many families. Now families can look forward to a cheque in the mail each and every month.

Finally, and perhaps most importantly, the new Canada child benefit would be fairer than the program it replaces. Why? It is because, unlike the UCCB, the benefit is means-tested. It would deliver the maximum benefit to those who need it the most and be gradually reduced according to income. This means that the government would no longer be sending cheques to millionaires and instead would be able to provide more significant, much-needed relief to those who need it most, to help them as they work to build a better future for themselves and for their children.

A single mom with one child under the age of six and earning $30,000 a year will receive an annual benefit of $6,400 tax-free, while a family with two children, one six or older and one under six, earning approximately $90,000 will receive $5,600, or $2,500 more than they get today under the current system.

This is about more than just extra pocket money. It is about empowering middle-class families, boosting local economies and giving parents a little extra confidence when planning for the future.

Equally important, however, is how Canadians expect to spend their later years. Our seniors have worked their entire lives, started businesses, raised children, contributed to their communities, and paid their taxes. Bill C-15 makes significant new investments to support seniors in their retirement years.

Canada's retirement income system has generally been successful in reducing the incidence of poverty among Canadian seniors over time, but some seniors continue to be at a heightened risk of living on a low income, especially seniors who live alone.

Single seniors are nearly three times more likely to live in low income, and that seems like a particularly unfair set of circumstances. That is why today's legislation will increase the guaranteed income supplement top-up benefit by more than $947 annually for the most vulnerable single seniors, starting in July 2016. This will help support those seniors who are most at risk of experiencing financial difficulties. This enhancement more than doubles the current maximum top-up and will improve the financial security of about 900,000 single seniors across Canada.

Our government has an ambitious plan to support the middle class and those working hard to join it. Each and every member from this party is invested in seeing this agenda realized. With the introduction of budget 2016 and the budget implementation act, we are one step closer to fulfilling our promise to Canadians, but we will not stop there. This government will work each and every day to better the lives of Canadians. We will never stop and we will not be satisfied until each and every person in this country has a fair shot at success.

[Marilyn Gladu, Conservative, Sarnia—Lambton, ON]

Mr. Speaker, the hon. member talked about seniors, and certainly when I went door to door, I saw a lot of seniors really struggling. They did not have enough savings to live comfortably, so I do appreciate the increase of 10% in the GIS, but $18 a week is not as much as they need.

I wonder if the member could comment on why the government has cut the amount of money we could put into a TFSA, which 11 million Canadians were taking advantage of in order to save for their future. Could she comment on that?

[Leona Alleslev, Liberal, Aurora—Oak Ridges—Richmond Hill, ON]

Mr. Speaker, this government is committed to improving the conditions of seniors in this country. We do not want any seniors to be living in poverty, and particularly, not only are we increasing the GIS, but we are also investing in ways that we can change the tax policy.

When two people are living, perhaps one in a nursing home and one wants to stay in their home, we are addressing mechanisms to support them as well.

Furthermore, we are also looking at ensuring that seniors have a better opportunity for their retirement. We are committed to seniors in that regard.

[Gord Johns, NDP, Courtenay—Alberni, BC]

Mr. Speaker, the member touched on a number of different things in her speech, certainly inequality and helping to support the growth of the economy.

Previously I was the executive director of a very successful chamber of commerce on the west coast of British Columbia. There were 350 chamber members and I cannot think of one of them being a tax cheat or any who were not good fiscal managers. They were contributors to our economy. They always complained that they felt things were not fair in Canada around taxes.

Under Liberal and Conservative governments for decades we have seen tax breaks for Canada's largest corporations and nothing for small business people.

Does the member feel that Canada's largest corporations are paying their fair share, and does she think small business owners should be getting a reduction in their taxes as promised by the Liberals in their campaign?

[Leona Alleslev, Liberal, Aurora—Oak Ridges—Richmond Hill, ON]

Mr. Speaker, I think that it is a philosophical question in many respects.

We need to look at what we are doing to invest in the economy, and what the critical foundations are at any given point in time. We have a significant infrastructure deficit in this country. Without having that foundation, many large and small corporations are choosing not to grow and expand in our country. What that means is we are losing jobs, and we are not benefiting from any kind of opportunity going forward.

By investing in infrastructure, we are ensuring that there is a strong foundation, not only immediately in the short term by creating jobs for those people who are going to provide that infrastructure, but for the mid and long terms by creating an environment where companies are going to want to come to Canada to grow and expand their businesses.

This is beneficial not only for large corporations but for small and medium-sized corporations as well, because they benefit from the local dollars in their communities and from the revenue generation that those larger organizations provide.