Thank you, Mr. Chairman, and welcome, Mr. Flaherty and officials.
Mr. Flaherty, I have a couple questions about the tax fairness plan. First, Bill C-52 and certainly the speeches and pronouncements you have made repeatedly have mentioned pensioners and seniors as benefiting from this, and you have used that same language again this afternoon.
Is that not, however, a little bit misleading, certainly in terms of the pension-splitting provisions? I understand that one has to have income that qualifies for a pension tax credit before one can split income. In other words, if you are a 70-year-old working at Wal-Mart and don't have registered pension income, you can't split your income.
How does this benefit seniors?