A number of people have expressed concern about the impact of TFSAs on provincial finances, and I am one of those people.
According to the Parliamentary Budget Officer, in 2080—that seems a long way away, but time flies—the federal government will be deprived of an amount of $77 billion in revenue and the figure for the provinces will be $39 billion.
In your view, what burden will that put on the provinces? What do you think about the fact that there were no discussions between the federal government and the provinces before this loss of income was forced onto them? For the provinces, this is something unexpected that they had not foreseen. One witness mentioned health care costs, which are going to continue to climb. That weight is going to be on the backs of the promises given that the health sector is in provincial jurisdiction. Is that reality a concern for your organization?