Mr. Speaker, when we looked at the problem we had with the deficit and we conducted much needed consultations across this country, senior citizens we met told us that everyone should share the burden. So if we look at what we did in this case, seniors must have an income of $49,000 or $50,000 to lose the age credit. This age measure affects a mere 5 per cent of senior Canadians. It does not affect 75 per cent of them, and the remaining 20 per cent are hardly affected at all. Only 5 per cent will be affected.
In the House of Commons on February 23rd, 1994. See this statement in context.