Mr. Speaker, I appreciate my friend's question. I can best respond to it by saying there would be a fair way to approach this issue.
His figures were accurate. I did some checking locally. He was right that a bank president like Mr. Cleghorn would save about $30,000 as a result. Bob Price, a gentleman who works in my constituency, calculated that he would benefit by about $115 a year. This is on taxes. Remember that at the same time there is a tax benefit of $115, the government is taking that much more in CPP payments. In a sense he will actually lose. Carol Smith, a single mom raising two children on social assistance, got nothing in terms of tax benefits.
Obviously this is a very unfair approach in terms of how the tax system is modified. My friend's suggestion is worth looking at and has considerable merit.