Mr. Chair, I thank the member for North Vancouver, my dedicated parliamentary secretary, for his invaluable assistance in developing the budget and for that pertinent question.
I have talked about the importance of taking relentless action to create jobs, but we can never forget whose jobs they are. They are our friends', our neighbours', and our family members' jobs. Families are the very bedrock of our nation.
Helping starts with philosophy. Canadians deserve to keep more of their hard-earned dollars, so we have done everything in our power to keep more in their pockets, right where it belongs. This year, Canadian families and individuals will receive $37 billion in tax relief and increased benefits as a result of actions taken since 2006. For example, a typical two-earner family of four will receive tax relief and increased benefits of up to $6,600 this year. That is thanks to measures like the new family tax cut, the universal child care benefit, and cutting the GST.
In economic action plan 2015, we will nearly double the annual contribution to tax-free savings accounts, from $5,500 to $10,000. Individuals with annual incomes of less than $80,000 accounted for more than 80% of all TFSA holders in 2013. Some 60% of those who maxed out their TFSA plans had incomes of less than $60,000. TFSAs benefit the low and middle-income Canadians who need them most.
The budget will also introduce a new, permanent, non-refundable home accessibility tax credit. It will provide up to $1,500 in tax relief per year to help make homes safer and more accessible for seniors and the disabled so that they can safely stay longer in their own homes.
All of these measures, investments, tax cuts, and these strong actions to build jobs and growth are all made possible by a balanced budget. A fiscally balanced budgets permits a socially balanced budget.
Everything is possible with a balanced budget. A financially balanced budget leads to a socially balanced budget. Fiscal responsibility gives us more ways to take action and to lower taxes for hardworking families.
To protect our top credit rating, to grow social programs, to withstand the unexpected and unavoidable shocks to the system, to avoid saddling our children with our debt, empowers us as we work to create jobs.
Let me end as I began, with resolve. Under the strong leadership of our Prime Minister, our resolve is ironclad. We will continue to take relentless action to make this great country even greater, to build prosperity today and tomorrow, the kind of prosperity that our children and grandchildren can rely on.
Economic action plan 2015 is our road map forward. Through it, we will continue down our Conservative course, the road that is working well for all Canadians. I look forward to talking more about that road map tonight.