Yes, Mr. Speaker, it is obviously important to note that the person who presided over the cuts to health care and medical enrolment in Ontario during that period was the member for Toronto Centre. Scary as it might be, it would not be surprising if he ended up as a minister in a coalition government with the separatists. He may choose to continue the ravaging of health care in Ontario that he started.
Our economic and fiscal statement is taking steps to help Canadian seniors. Our seniors built this country. They deserve to live with dignity and respect.
Registered retirement income funds, or RRIFs, and their associated withdrawal requirements are of particular concern. Last year our government raised the age limit for converting a registered retirement savings plan and an RRIF from 69 years of age to 71.
This government is proposing a one-time change that would allow RRIF holders to reduce their required minimum withdrawal by 25% for this tax year. For example, an individual who would be required to withdraw $10,000 from an RRIF in 2008 would see that withdrawal reduced to $7,500.
On top of the $2 billion increase to the borrowing authority of Export Development Canada, the finance minister has also planned for a $350 million equity injection that would support up to approximately $1.5 billion in increased credit for Canada's export business. That should be applauded by all members in the House who are concerned about Canada's export business.
The export sector has been hit hard by the financial crisis. EDC will now be able to add to the nearly $80 billion in exports and investments it helps make possible for Canadian enterprises, including $4 billion for the auto sector alone.
This government will move forward quickly on the securities regulation front. Our cumbersome and unwieldy system of having 13 security regulators is a glaring flaw in Canada's world-leading approach to promoting financial stability.
This government came to office looking years down the road. Our country is better off today thanks to that approach.
On October 14 Canadians chose a Conservative government to deal with the economic crisis facing the world. I am pretty sure that when Canadians went to the ballot box, they did not pick a Liberal-NDP-Bloc Québécois government. If the rumours are correct, this coup d'état, this non-election, this takeover of democracy, would certainly misrepresent the views of Canadians.
We will deal with these economic challenges in a way that protects Canadian families, in a way that Canadians asked of us and expressed by their opinions at the ballot box. Our plan demonstrates restraint and respect for Canadian tax dollars. It forces governments and politicians to cut back before asking ordinary Canadians to tighten their belts.
The Conservative government's economic plan will reform global finance, ensure sound budgeting, secure jobs for Canadian families and communities, expand investment and trade, and make government more effective.