Mr. Speaker, let me tell Canadians how far the government will go to empty the purses or wallets of Canadians. A senior in my riding cashed in a life insurance policy he had held since 1935 so he could buy a computer.
Cashing in that $3,187 life insurance policy reduced his old age security by $1,400 per year, his Alberta seniors benefit by $648, and increased his federal and provincial taxes by $686. His rent which had been subsidized according to his usual income level increased by $50. The $3,187 windfall set in motion a chain of events that put him $161 in the hole.
I will be introducing a private member's bill that will allow seniors a one time windfall of up to $10,000 that will not be subject to clawback by federal programs.