Mr. Speaker, on the measure introduced by the Conservative Party in the latter part of the 34th Parliament, the RRSP program has been distorted to such an extent that it provides a considerable tax advantage to high income Canadians and provides no advantage at all to Canadians in the lower income brackets. I therefore urge that this distortion be removed and that the loss in tax revenue be restored to the advantage of the overall revenue of the federal exchequer.
As to old age security, I believe that society is best served by a system in which we all contribute and where on reaching retirement age we all share in receiving the pension we have contributed to. In the case of the old age security to which we do not contribute directly, it is my belief that it should be redistributed to all Canadians equally regardless of income.