Madam Speaker, my argument today is that these tax cuts are reckless and unaffordable.
It was one thing when the Liberals reduced corporate taxes during an economic boom. We were in a surplus of $14 billion and we kept a reserve of $13 billion. However, circumstances are different today. Because of the government's policies, today we have a $56 billion deficit and we have just added $200 billion more in new debt under the government, which will have to be paid back by borrowed money.
These tax cuts are unnecessary as well because we already have some of the lowest corporate tax rates of the G7. They do not include tax rates for small businesses. We know that corporate tax cuts are not the most efficient way to create jobs and drive growth in the economy. For example, infrastructure, housing and family care would help foster growth and jobs.