Mr. Speaker, I do not know where my hon. colleague has been living the last number of years, but I recommend that he come back to Canada, back to this country, where things are actually pretty darn good.
Let me reassure the hon. member that neither the middle class nor small businesses are paying higher taxes under this government. In fact, the exact opposite is true.
Our Conservative government recognizes the vital role small businesses play in the economy and job creation. That is why we are committed to helping them grow and succeed.
Indeed, one way our government has supported small business is through lower taxes. The member opposite may be interested to know that since 2006, our government has reduced the small business tax rate to 11% while at the same time increasing the small business limit to $500,000. We have eliminated the corporate surtax for all corporations, which was particularly beneficial to small business corporations, as it represented a larger proportion of their overall tax bill.
We have also increased the lifetime capital gains exemption to $800,000 and have indexed it going forward, which will increase the rewards for investing in small business by making it easier for owners to transfer their family businesses to the next generation of Canadians.
As can be plainly seen, to suggest that small businesses are paying more in tax under our government is simply fiction. In fact, because of our government's low-tax plan, the typical small business now saves over $28,000 on its tax bill.
That is not all we are doing to help small businesses across the country thrive. We are also providing them with certainty and flexibility in the years ahead by freezing EI premium rates, a decision that will leave $660 million in the pockets of job creators and workers this year alone.
We are also continuing to reduce the red tape burden by eliminating over 800,000 payroll deduction remittances to CRA made every year by over 50,000 small businesses. By doing this, business owners can spend more time running their businesses and less time filling out paperwork.
Our government is also standing up for Canadians and their families by leaving more of their hard-earned money where it belongs: in their pockets.
The member opposite might be interested to know that since 2006, our government has cut over 160 different taxes. For example, we have reduced the GST from 7% to 6% to 5%, we have cut the lowest personal income tax rate to 15%, we have increased the amount Canadians can earn without paying taxes, and we have introduced the tax free savings account, the most popular savings account in Canadian history. Over nine million accounts currently exist.
Because of our government's low-tax plan, the federal tax burden is at its lowest level in 50 years, helping an average family of four save over $3,400 a year in 2014. That is real action for Canadian families.