Madam Speaker, I would like to clarify a couple of points especially about family taxes, tax cuts and the whole idea of getting the government's hands out of the pockets of hardworking Canadians.
We put out a proposal on a 17% single rate tax. An income of $28,000 has been mentioned. Let us look at a single income family of four. This is federal personal income tax payable in the year 2004. This is after the implementation of the proposals. Let us look at a family of four earning $30,000. Under this Liberal status quo budget and tax regime this family would pay $2,541 annually. Under solution 17 the family would pay $387.
That is substantial tax relief. That is the kind of tax relief Canadians are expecting when revenues and budget surpluses are going to be in the tens of billions of dollars, approaching $100 billion. That is the kind of tax relief Canadians expect from their government, substantial tax relief that will leave more money in their pockets, $200 or $300 a month, instead of the $200 or $300 a year that has been proposed.
Let us look at a family of four earning $40,000. Under this Liberal government's status quo tax regime, that family will pay a little over $5,000 a year in tax. Under solution 17 a single rate tax, it would be $2,000. That is a 60% saving in taxes. That is the kind of substantial tax relief Canadians are expecting from their government when they are looking at huge surpluses.