Mr. Speaker, I would like to congratulate my hon. colleague from Parkdale—High Park on her speech, as well as her in-depth, methodical analysis of this budget, which does not meet Canadians' expectations. Based on the consultations we have held over the past year as the official opposition, clearly, this is not the direction we want to take.
The austerity introduced in 2012 will continue for many years. It will kill jobs and prevent economic growth, and this will result in a loss of revenue for the Canadian government, which will be forced to make further budget cuts that will reduce services to Canadians.
I would like to ask my colleague a question about one specific measure: the phasing-out of the labour-sponsored funds tax credit. As we know, labour funds received an additional 15% tax credit. The government decided to eliminate that, under the pretext that labour funds and the usual RRSPs issued by financial institutions had to be on a level playing field.
There is a big difference between labour funds and other kinds of private RRSPs. Labour funds invest that money in businesses that are struggling, in businesses that are just starting up and in businesses that will create jobs. Losing this tax credit will lead to a lack of competition. In addition, it will create not only an uneven playing field for these funds, but also a loss of competitiveness.
I would like to hear my colleague's comments on that particular measure.