Mr. Speaker, studies produced by the Department of Finance, the Bank of Canada, and virtually every reputable economic authority in Canada and abroad indicate that payroll taxes reduce jobs and reduce job growth. Does the hon. member think that this bill, which will increase CPP payroll taxes by 70 percent, by some $1,800 for self-employed individuals, by over $10 billion a year when fully executed, will help the government to achieve its objective of greater job growth? Or does the hon. member concur with the evidence of all of the reputable economists in Canada that this massive tax grab, the largest tax increase in Canadian history, will in fact kill tens of thousands of jobs, taking away the very kind of economic hope that people of my generation so desperately need in order to pay the kind of tax burden that has been levied on us by the fiscal irresponsibility of this and other governments?
In the House of Commons on October 6th, 1997. See this statement in context.