If that does not qualify as a tax cut, I do not know what does.
The second point has to do with indexation. That party on the other side of the House argued for years and years that we should re-index the exemptions and the whole Income Tax Act. Let us guess what happened. We did that. We re-indexed the income tax system to the cost of inflation. Then those members said, “That's fine, but that's not a tax cut”.
Let me say this. What if we were going to be paying x plus 10% on our tax bill and the government were to say, “By the way, it is not going to be x plus 10% because we are going to reintroduce indexation.” What would we say? If that is not a tax cut, I do not know what is.
Let me say to the group on the other side that we have said we have not finished the government's business with respect to cutting taxes. I think the member raised a couple of important points in terms of disposable income and in terms of productivity, but to stand on that side of the House and say what they have been saying for years means that they have not come to grips with the fact that it was the largest tax cut in Canadian history.
I am wondering if the member would reconsider and recognize that it was the largest tax cut in Canadian history. There is more to be done, but as for saying that the Canada child tax benefit was not a tax cut or that reintroducing indexation was not a tax cut, I wonder if he recognizes the folly of his arguments.