Madam Speaker, I appreciated the comments of the hon. member for Durham. I know that in his professional life he worked a lot in financial situations and accounting and that he is well respected in that field.
I particularly appreciated his comments on the impacts of bracket creep. I was reminded as he was speaking about a recent report from the C.D. Howe Institute that talks about how Canada's personal income tax system has not been adjusted properly for inflation since 1985. As a result more taxpayer income has become effectively subject to tax. For Canadian families this means higher taxes on the average of about $1,000 per family due to bracket creep. I certainly concur with his comments. Now that we are moving into the days of surplus, is it the member's priority that we address this with the surplus money?
We may be saying there are no tax increases but in effect with bracket creep real tax increases are taking place.