Madam Speaker, the hon. member talked a lot about the Canada pension plan.
I think we all agree that this is a very well run national plan that helps Canadians prepare for their future. The board has obtained good returns on its investment.
However, in the same sentence as praising the CPP, he went on to suggest that it is not dependent upon the mercurial nature of the stock market.
If we look at the holdings of the Canada pension plan, we will find that about half of them are invested in the stock market. It is very much dependent, therefore, upon the profitability of the business sector. Of course, a stock in a company is only worth what that stock can pay out in dividends over time. So, the CPP, which the NDP purports to cherish, depends very much upon after-tax corporate profit.
Would he join with me in supporting lower taxes on Canadian business so that after-tax profit would be higher and the benefits to plans like the CPP would be increased?