Mr. Speaker, Canada's government recently announced the deepest tax cuts in a generation. The economic statement announced last month proposes broad-based tax relief for individuals, families and businesses of almost $60 billion.
There will be a $14 billion reduction in the federal debt. Measured against the economy, the national debt has fallen to its lowest level in 25 years.
The GST will be lowered to 5%.
Business taxes have been reduced to make Canada more competitive and investment friendly.
Together, these measures will reduce personal income taxes by more than $400 for a typical family earning $80,000 a year.
I am proud to be part of this hard-working, focused government that is committed to lowering taxes.