Madam Speaker, a reduction in the GST would be the best way to reduce taxes in a very fair and balanced way for ordinary Canadians. One point in the GST means about $3 billion in terms of total government revenue.
In essence the GST is a flat tax. Everyone pays the same tax. When someone gets a haircut one pays 7% whether it is wealthy person, a poor person or a middle income person. Some people do not get haircuts so they are at tremendous advantage here in the House of Commons. It does not make much sense to reduce the GST for our friend from Vancouver, but for most people a reduction in the GST is the quickest way to create a fairer tax system.
It is also the quickest way to stimulate the economy by putting more money back into the hands of consumers, particularly ordinary people who will spend it on the necessities of life and in turn create jobs.