Mr. Speaker, I am pleased to offer some comments on the debate today because it concerns a subject that is very near and dear to my heart, small business. Having been in small business for over 20 years, when I had a real life before I became a politician, I was aware of many things that were lacking in what it took to run a successful small business.
I cannot let this debate go by without revisiting a couple of things that this government has failed to recognize. At the top of that list is the level of EI premiums.
Small businesses and the people they employ are currently being overcharged by some 33% on EI premiums that are necessary to not only sustain the program but also to provide a reasonable rainy day fund in case we have a downturn in the economy.
Not only do we have that rainy day fund available but the finance minister has decided that he wanted to create a hurricane fund. We now have a surplus of $20 billion in EI premiums for this year. Let me clarify that. There are many workers who think there is $20 billion in the fund but in fact all that is there is an IOU from the finance minister who has scooped the entire pot and it looks like he is intending on defying or changing the law that governs EI surpluses so he can continue to scoop an extra $6 billion per year.
I know members want me to conclude but I cannot stop without talking about the high taxation level. Canada is the highest in all the G-7 countries. Small businesses are stressed under a burdening tax regime that makes us uncompetitive. I would like the member from the fifth party to elaborate. I know this is the Reform issue but I am sure the Tories can try to elaborate on it.