Mr. Speaker, I am pleased to rise on behalf of the Minister of Finance to respond to the question of the member for Regina-Lumsden.
The government's number one priority has always been, is and will remain job creation. A key part of this commitment is ensuring that the corporate tax system contributes to job creation. Many steps have been taken.
The government has eliminated a whole range of what the member opposite would call tax breaks. They are too numerous to mention. Last year, as the member knows, it took significant steps to reduce business subsidies which were continued in this budget as well.
A number of incentives have been kept in place. They have been studied extensively and have been judged useful for job creation, for instance, the small business tax rate. I do not think the member opposite would argue that it was not useful in encouraging job creation in the small business sector. There are also vital measures to encourage research and development. I do not think any member
of the House would argue with the importance of research and development to the creation of long term and important jobs.
To ensure that corporations contribute to deficit reduction and do their fair share, steps have been taken with regard to the large corporation tax rate. Furthermore, the temporary surtax on banks which was instituted in last year's budget is continued further in this year's budget.
Finally, in this year's budget a technical committee was created to look at other ways in which the tax system can contribute to job creation. Their report will be made public after consultations some months hence. We all look forward to seeing the committee's recommendations.