Mr. Speaker, I would like to address the issue of suggested changes to the registered retirement savings plan and possible new taxes on employee benefit plans.
I have received numerous letters and inquiries from constituents in New Brunswick who are concerned about any reduction in the amount of allowable contributions to their RRSPs. These concerns are from small business owners and professionals who rely on their RRSPs as they do not enjoy the luxury of large corporate retirement savings plans.
To reduce or alter this plan would be a serious blow to these Canadians who are already enduring difficult economic conditions. The government must send a signal that it is prepared to help small business owners and other self-employed Canadians to prepare for their retirements.
By maintaining the amount Canadians are allowed to contribute to their RRSPs the government will ensure these Canadians have the opportunity to save adequately for their retirements. This is especially important at a time when the Canada pension program is under increasing strain.