Madam Speaker, I listened attentively to the member's speech. It is obvious that he has looked carefully at the legislation and is speaking well on behalf of his constituents.
I did want to raise a couple of points, however. I would like to hear the member's comments because I get the sense that there was an indictment that the government was somehow going after seniors. This is an unwholesome way to put the issue.
As we all know, the finance minister's last budget included a clawback in the old age exemption for seniors. That meant that once seniors had an income over the $25,000 level it started to be reduced until they reached just over $49,000.
To help explain the situation or understand the equity of the situation the member could have indicated that the clawback mechanism that is applied to the old age exemption is exactly the same clawback mechanism that is applied to the child tax benefit. That is the tax benefit that replaced the family allowance system we had for many years. That means people with children who made over $25,000 all of a sudden started losing that child tax benefit as well. That happened in the prior year.
What is worse for families with children is that last year they also lost the exemption for their children on the income tax return. As a father of three, I know how much that cost me as well.
One thing we have to ask ourselves is that if there is a cut in the old age exemption, is that simply an issue to do with seniors? I think not. When there are changes to the benefits levels that Canada can extend to its citizens, it is not just the people who enjoy them today, it is also the people who were hoping to enjoy them tomorrow. That means that I will never get an old age exemption. I have already lost a child tax benefit that most people ahead of me had taken advantage of.
All of a sudden we have to consider that any changes in the tax structure or in the deductions of the tax credits do not simply affect those who are presently benefiting from those benefits but also those who are to come later.
Last night the finance committee had a round table for some six hours with economists from right across the country. If members want to hear some draconian measures they should listen to some of these economists who, the member might be interested to know, were saying across the board cuts of 5 per cent or 7 per cent on everything, all programs.
Those kinds of things I do not think we will see this government embrace. There are certainly major changes that have to be made but they have to be done in a way to make absolutely sure-I know the member agrees and I know the government is
of this view-that those in most need are always taken care of in Canada, the best country in the world.
I would be interested in the member's comments.