John McKay at the Finance Committee

On May 8th, 2006. See this statement in context.

May 8th, 2006 / 4:05 p.m.

Liberal

John McKay Liberal Scarborough—Guildwood, ON

For 2004-05, that's right. So each point generates about $4.5 billion--$4 billion to $5 billion.

If you work your reduction of one point through the system, is it equal to effectively one-seventh? I see how gross would be reduced by one-seventh, but are the credits and the costs also reduced by one-seventh?

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