Mr. Speaker, before I begin my statement on the budget, I wish to welcome residents from my riding of Oak Ridges—Markham who are in Ottawa celebrating Asian Heritage Month.
Tax measures in the Conservative budget do very little to truly help my constituents.
First, the lowest tax rate for Canadians will increase to 15.5% and the basic exemption will decrease by $200. While raising the taxes we pay, the Conservatives are implementing a GST cut that only benefits the wealthy who spend more money on luxury goods.
Also, the transit tax credit of 15.5% does very little, if I may say, to benefit the transportation needs of my riding. Commuters in my riding benefit when money is pooled and goes toward such projects as light rail, subway extension and improved bus services. These are what encourage people to use the transit system, not the paltry tax cut for those that already use it.