Thank you.
On the issue of tax fairness, we've cut taxes for middle-class Canadians, approximately nine million of them, and raised taxes for our wealthiest one per cent. With the last measure we introduced—and I applaud this measure—reducing the small business tax rate to 9%, firms will benefit up to $7,500 in lowered taxes that they can use to invest and grow the economy.
I know my colleague on the other side mentioned passive investments. Isn't it a fact, Minister, that with a passive investment of $1 million, approximately 98% of small businesses, from coast to coast to coast, are unaffected by that proposed change, that this change will only impact literally less than 2% of CCPCs across Canada? The local restaurant, the local bakery, and the plumber are all unaffected. This measure is based on tax fairness and will grow the economy to incentivize capital to be put to work.