Mr. Speaker, the hon. member's question provides an opportunity for the government to respond to those who are fear mongering among seniors. This frightens seniors and I am happy to set the record straight.
The new seniors benefit does not affect current seniors and most Canadians I hope now know that. We have protected the payments of every current senior. We have improved the system for those who will be seniors in 2001. There is no across the board 50 per cent tax back rate as some articles are suggesting. There is no disincentive to save for RRSPs. The fact is the benefit looks at the after tax income of seniors and it will be tax free. Seventy-five per cent of seniors and couples will be as well off or better off than they are today.