Mr. Speaker, I listened carefully to my colleague's excellent speech. What strikes me, negatively of course, about the government's arguments is that the program set out in Bill C-25, that is, pooled registered pension plans, comes in response to Canadians' lack of savings and the difficulty they have saving. Let me remind the House of some facts: 70% of Canadians do not invest in RRSPs despite the tax incentives; 60% of Canadians do not invest in TFSAs; and of the 40% of Canadians who do invest in TFSAs, 20% earn $100,000 or more.
So we already have voluntary systems that Canadians do not use. The government's response to this is to propose another voluntary system, rather than examine the reasons why Canadians do not have enough disposable income to save, either because people do not necessarily have the income or because they want to use their income for household expenses considering their low income. The system therefore seems to be inadequate.
I wonder what my colleague has to say about the government's response, which I think is a little off the mark, considering the current situation, that is, insufficient incomes.