Mr. Speaker, a new report by the Investment Funds Institute of Canada shows the shocking impact of the HST on people's retirement savings. Let me quote: “An Ontarian saving $5,000 each year will lose $42,000 over a 35-year career--”.
Maybe the Prime Minister thinks that imposing this new tax on Canadians is small change, but for people who are struggling these days to put some money aside for retirement, this new Conservative tax is going to eat up the equivalent of five years of savings.
Why is the Prime Minister going after retirement savings with his HST?