Mr. Speaker, in a few weeks, the House will be debating my private member's motion on income splitting, Motion No. 638.
Our government has cut taxes for families by an average of almost $3,000 annually but taxes are still the biggest single expense families face. I am proposing that, as our budget comes back into balance, the government give priority to income splitting for families with children. Income splitting would ensure fairness for families, as all families earning the same income would pay the same tax, regardless of the individual spousal income. Research estimates that income splitting will save 2.3 million Canadian families over $1,000 annually. That is more money Canadians can use for children's sports, summer camps and to save for post-secondary education.
I believe providing families with greater financial freedom through income splitting would create a brighter and more prosperous future for our nation. Canadians can learn more at my website www.familyincomesplitting.com.