Mr. Speaker, I very much enjoyed the debate that was going on in the last couple of hours. It really demonstrates the difference between a group of people who have not really thought about what they are proposing and some people who have given a considerable amount of thought to what is actually happening.
I gave a statement in the House the other day in which I pointed out that young people today, like the member who was speaking, pay $3,400 a year for 35 years to pick up a pension of about $8,800 a year, when that same money invested in a very modest RRSP style plan for the same number of years would end up with an annuity of something like $92,000 a year.
Members on that side who still think an $8,800 a year pension is good news should give their heads a shake because it is totally ridiculous.
As a secondary effect of these CPP taxes, what does the hon. member feel the impact will be on small business? At the moment, having come from small business myself, I know that every month they have to pay CPP taxes, UI taxes, corporate income taxes, income taxes for employees, business licences, Workers' Compensation Board taxes and capital taxes in B.C.
Could the member give us an idea of the impact on small business of this drastic increase in CPP?