Mr. Chair, it is an honour to serve with the member for Hamilton East—Stoney Creek on another committee.
With respect to his question, it is important to note that this government has taken 950,000 Canadians off the tax rolls. The average family in Canada saves more than $3,000 a year, thanks to the tax cuts of our government. We have cut over 100 taxes in every way that the government collects taxes, whether it be personal taxes, consumption taxes, business taxes, excise taxes and more.
Regarding the tax free saving account, the Minister of Finance was before our committee today and noted that more than four million Canadians had taken the step of saving in this fashion.
I want to note what Peter Aceto, chief executive officer of ING Direct, said with respect to the TFSAs. He said, “We think the tax free savings accounts are a great gift the government has given to Canadians to help them save. It is the most important thing that has happened in that regard since RSPs were introduced 50 years ago”.