Mr. Speaker, with all due respect to the member opposite, it is not true.
Those who do not have a lot money also do not have a lot of opportunities or a lot of instruments for saving. This is one they can look at and deal with. We can see that it happens. When seniors are being forced to take money out of other various financial instruments, they want some place to put it. They are not necessarily going to be spending it all at that point, so they need to have that type of flexibility. It is important to recognize that.
All one has to do is go through the numbers. I went through that. I said that of the total number of people who have maxed out their TFSAs, 60% earned less than $60,000. That is $5,500 per year they have been putting in maxing out their TFSAs. There are lots of other opportunities for investments for some of his friends, I guess, who are in that $200,000-plus club, but they will not be using a TFSA as their main instrument for investment.