Thank you for that question. It gives me the opportunity as well to finish some of my thoughts from the prior question.
The leader of the Conservative Party has made it very clear that he wants us to cut more than $56 billion from the budget between 2025 and 2029. It's very interesting to me to hear from the Conservative members that they want increased spending. It's hard for me to square those two things and, at the same time, explain to them how these investments are so crucial to seniors and cannot withstand a $56-billion cut to the kinds of services that seniors rely on.
The old age security program is a budget item. It's a line item. It's real dollars that Canadians rely on. It's not a cheap line item. This is because it puts real dollars into the pockets of Canadians. Old age security alone at its full rate is just over $800. The GIS at its full rate is around $1,100. Those amounts ensure that we keep seniors from falling into poverty at the same rates that we see in the national average. We know that it's working, because we see that the senior population is experiencing poverty at half the rate of the national average.
That doesn't mean it's okay that anybody is living in poverty. That doesn't mean that what is happening in the global economic context, raising the cost of groceries, raising the cost of housing materials, is okay. It means we need to invest in Canadians, and those investments need to be smart and strategic. Canadians are relying on all of us elected in the House of Commons to support initiatives and a budget that invests in them. That very much includes seniors and the programs and services they rely on.
I focused on old age security, but we have the New Horizons for Seniors program. This is a program that with a $56-billion cut we would absolutely see lost. This is a crucial program that fights social isolation. Over the summer I had the opportunity to go and see the real world impacts of those dollars. What it means is that social services organizations are able to reach out to seniors who are living alone, who are isolated, and ensure that they have access to the food programs that many of these senior centres are running. Those food programs help to combat food insecurity.
Without investments from the Canadian government, with a $56-billion cut tomorrow, simply put, those services cannot exist.