Mr. Speaker, the member and the rest of the government members repeat the myth that reducing corporate taxes is going to increase jobs. They have presented no evidence or studies to show that. In fact, we have evidence that indicates exactly the opposite.
Statistics Canada and Finance Canada indicate that business spending on machinery and equipment has declined as a share of GDP. Total business investment spending has declined as a percentage of corporate cash flow. That is from Statistics Canada. IT use by Canadian business is only half that of the United States. Despite Canadian corporate tax rates being well below those of the United States, business sector productivity growth is actually worse.
Corporate taxes are already low. American corporate tax is around 35% and the Conservatives want to go to 15%. They do not have to reduce them that drastically to have a positive effect. Where are the member's studies to show that reducing the corporate taxes to 15% is going to produce those jobs?