Mr. Speaker, by Canadians being able to put into their expanded RRSP program, they will get exactly double what the government offers in any pension scheme.
The same study that was done by Joe Italiano in the minister's department also examined the impact that payroll taxes had on wages. It is one thing for the minister to say that this is an investment. For the employers who are kicking out another 70 per cent of taxes on premiums for their workers, this is what his department came up with, not some Reformer, regarding wages.
"Employers, that is the people who hire and pay the employees, try to pass the increased cost of higher payroll taxes on to employees through lower wages". Somehow that does not sound like a great investment.
Since Canadians have already suffered a $3,000 pay cut under this Liberal government, how much more than $3,000 will they lose now that the finance minister has increased payroll taxes by 70 per cent?