Mr. Speaker, I thank my colleague for the question. He is right: income splitting is a very bad idea.
I would simply say that over the past 20 years Liberal and Conservative governments have practically been in lockstep as they have benefited the wealthiest by lowering their taxes and especially by eliminating some tax brackets. Furthermore, large corporations have had their taxes cut in half.
For 20 years we have been promised a brighter future and forced to wear rose-coloured glasses. That brighter future has not materialized. In fact, the record of the Liberal and Conservative governments is clear. According to the Bank of Canada's Monetary Policy Report, the current labour market is very precarious. In fact, the future of our workers is uncertain at this time. With the pending turbulence, people will suffer a great deal. What hope is there for our young people who want to enter the labour market, given the conditions created over 20 years by the Liberal and Conservative governments? That is my question.