Mr. Speaker, the tax-free savings account, or TFSA, is an excellent way for Canadians to save money to buy a house, educate their children or build a nest egg for retirement.
That is why 11 million Canadians have a TFSA. The vast majority of those Canadians have a low or average income. Fully 60% of the people who contribute the maximum amount to their TFSA earn less than $60,000 a year. It is incredible to think that the Liberals and the NDP would cancel the increased TFSA contribution limit and deny the middle class and seniors this opportunity to save money.