Mr. Speaker, it is my understanding that prior to this bill being passed, that is under the rules that are now in place, 50% of the security income was taxed and now 85% of that income is going to be taxed. If we are going to tax a greater proportion of the income, it seems to me that will result in a tax increase. I would like the member to explain if that is not so, how that would come about.
My second question is with respect to the retroactivity. The government claims that its bill is going to be retroactive. I would like to know what specific procedures are going to be followed to make sure under the retroactive rules that those who have paid taxes will no longer be accountable for how they will get their refunds or rebates and how they will be looked after.
These are two very serious questions and I would appreciate a response.