Mr. Speaker, it is nice to hear a reasonable question for a change.
Our government has built on our aggressive tax relief by reducing taxes on savings with the landmark tax-free savings account, the most important personal savings vehicle since RRSPs.
The vast majority of the 4.6 million Canadians who opened a TFSA understood the rules and acted accordingly. Unfortunately, about 70,000 Canadians may have accidentally over-contributed to their TFSAs. We are not looking to unfairly punish those people.