Mr. Speaker, I have received numerous letters from constituents concerned about the upcoming budget and whether they can expect to be taxed on their RRSPs.
These constituents believe that an understanding between government and Canadians has existed since the 1950s when RRSPs were first introduced. At that time the government rewarded Canadians who took responsibility for their own retirement by offering both an initial tax deduction as well as tax free accumulation.
Since then thousands of Canadians have assumed responsibility for their own retirement by taking advantage of RRSPs. They have done so in part because of strains on the Canada pension plan and old age security and their need for greater income security during retirement.
My constituents and I feel that any move on the part of the minister to change the ground rules by taxing RRSPs would be unfair and unwelcome. It is our sincere hope that the minister will listen to these concerns and not tax RRSPs.