Mr. Speaker, the evidence shows a significant percentage of the lowest income employed families in the country already save specifically for their children's education. That group is already there. Without any assistance at all, already they are putting aside money in whatever vehicles they find appropriate for their children's education.
All the evidence shows that in those families, unlike the other low income families, the participation in post-secondary education is very high. One of our motivations in this is the demonstration of the link between families thinking early of their children's post-secondary education and those families which do not.
I do not disparage the grant aspect of this and the accumulated interest on the grant aspect of it. However, I believe this significant percentage of low income people already saving will be increased considerably.
Another point I would make is that we are talking a 15 year period. Very often families of low income when a child is born, go to a higher income level by the time the child is 15. In the last few years they will have disposable income to put into these accounts.
The member mentioned the $2,000. There is a provision for the provinces to participate. They can run their own programs under this legislation. The province of Alberta will do so as of next year, and children there will have at least double this amount of money.