Mr. Speaker, I have a second petition to present today on behalf of Yukoners.
The petitioners would like the government to know that people in the north face the highest cost of living of all Canadians and that the northern residents tax deduction was instituted to help offset these high costs. The residence portion deduction has not been increased since its inception 20 years ago, while the cost of living for northern Canadians has continued to increase.
The petitioners would like the government to know that whereas the cost in lost tax revenue to the Government of Canada would be insignificant while the economic benefits to the north would be substantial, they would like the Minister of Finance to increase the residence portion of the northern residents tax deduction by 50% and also ask that this portion of the tax deduction be indexed to keep pace with inflation based upon the northern inflation measurement.