Mr. Speaker, this government has created uncertainty, confusion and unnecessary anxiety for Canadians about their retirement security. It announced changes to seniors programs that would be costly and disruptive for millions of citizens and then neglected to bring in legislation which left Canadians twisting in the wind when trying to figure out how to sensibly plan their retirement.
Financial experts are uncertain as to what to advise their clients. Middle income Canadians fear that the clawbacks and the taxes on their retirement savings will be so high that they will penalize their thrift. Lower income Canadians do the numbers and have no doubt that RRSPs will merely be offset by a lower government pension.
In the budget of 1996, over two years ago, this government announced proposed changes to old age security, the guaranteed income supplement as well as the elimination of the retirement income tax credit and the seniors tax credit based on age. These proposed changes were called the seniors benefit. Some benefit. Those planning for their sunset years quickly saw this proposal as ad hoc, flawed and illogical.
Financial advisers and citizens have been seeking certainty so they can figure out how best to maximize their retirement dollars. The official opposition and other parties have asked many questions in this House. They have been urging the Liberal government to end the suspense, decide on a policy and let us all know where we stand as Canadians. Still from this government there are only trial balloons, empty rhetoric and more foot dragging.
Perhaps the government should say we screwed up, we are going to withdraw our proposal and come back later when we get our act together. At least it could assure Canadians that their hard work and sacrifice to save for their own retirements will not simply be eaten up by another Liberal tax grab.
Will the minister tell Canadians when the government will introduce legislation to let people know where they stand with respect to seniors programs, and what it intends to do to ensure fairness to Canadians who have scrimped and saved for years for their retirement and who now fear their thrift will be penalized by cuts to benefits promised to them by their government? I look forward to the answer.