Mr. Speaker, I think I can handle that.
At present small business has to maintain two sets of books, meet two sets of reporting dates and file two sets of forms. Most small businesses will say they are constantly tripping over tax auditors from either the federal government or provincial governments, which is why the Canadian Federation of Independent Business supports harmonization. The Canadian Association of Chartered Accountants has said it will save business over $500 million a year, which is in fact a modest assessment.
As far as consumers are concerned, with harmonization we will eliminate the cascading of taxes on each set, each stage of the production process. Provincial taxes are imposed; tax on tax on tax. This represents a disguised tax grab that is a penalty on jobs.
Consumers will benefit from lower prices, Canadians will benefit from lower prices and the economy will benefit from harmonization.