The member harps about CPP. He should know that the CPP is on very sound financial footing now and in fact is projected to be fully funded right out to the year 2075.
However, to get back to the member's speech, a number of members of his caucus have suggested that the existence of a surplus means that Canadians are overtaxed. However part of the responsibility of government is to be fiscally prudent and to manage the finances of the nation. We have had eight balanced budgets.
The existence of a surplus does not mean that there is some sort of a profit that does not do anything. It pays down the national debt and saves interest each and every year thereafter. We have had over $60 billion of debt repayment and a savings of over $3 billion a year.
The member now suggests that since there was a surplus the last time that we should have meaningful tax cuts. I wonder if the member would care to share with the House and with all Canadians what kind of tax cuts he is suggesting now. By how much would that reduce the government's revenue?