Mr. Chair, we have spent a lot of time talking about tax-free savings accounts, and it seems that we have not been able to penetrate the opposition members, who are focused on a misunderstanding of the central fact that TFSAs overwhelmingly benefit low and middle-income Canadians. Two-thirds of the benefits go to them, and 25% to families earning less than $30,000 a year.
The TFSA is a marvellous tool to save for a first home, for the kids' education, or for retirement. Of the 11 million Canadians who participate, three-quarters of them earn less than $75,000 a year, half of them earn less than $42,000 a year, and 60% of those who have maxed out earn less than $60,000 a year. This is a very important measure for low and middle-income Canadians and, of course, for seniors. This is part of our government's plan to create jobs, growth, and long-term prosperity.
Since we have spent so much time discussing the TFSAs, perhaps I could move on to the broader discussion of Canada's economy.
Through Canada's economic action plan, our country's economy has seen one of the best economic performances among all G7 countries, as we have said many times. However, Canada is not immune to global economic challenges beyond our borders. That is why economic action plan 2015 continues to focus on supporting job creation and economic growth, while returning Canada to balance.
When one reflects on some of the questions, it is really rich for the NDP and the Liberals to be criticizing our government's savings record and our record on the economy and job creation. They voted against every job creation measure our government has put forward, including introducing the small business job credit, introducing the largest and longest investment in job-creating infrastructure in Canada's history, including the new Building Canada fund; and introducing tax cuts for manufacturers to purchase new equipment and expand their operations.
The NDP continues to push for risky economic policies, including a $20 billion carbon tax that would be a tax on everything and everybody and would hurt Canada's economy.
Meanwhile, the Liberals have introduced a plan full of holes that would return Canada to deficits and jeopardize our strong economic position. In fact, the Liberal leader's plan simply does not add up. He already admits to a $2 billion shortage. We have discovered an additional $1 billion in his rudimentary miscalculation of the cancellation of the UCC benefit, and of course he has wildly overestimated the amount of tax he would collect through his tax hike. In addition to that, there are more high-cost spending programs to come. The question is, where will he get the money? Will it come from piling on more debt? Will it come from increasing taxes? Will it come from cancelling important programs, such as income splitting for seniors or increased funding to the brave men and women in uniform? We do not know, and we suspect the Liberal leader does not know either.
We can contrast all that with our low-tax plan. On the other side, the Liberal leader thinks that Canadians should be convinced to accept a tax hike, believes that budgets balance themselves, and does not think we should provide benefits to all Canadian families.
From July 2009 to April 2015, our government created 1.2 million jobs. More than 80% of these jobs are full-time, more than 80% are in the private sector and nearly 60% are in high-wage sectors. Since our government came to power, we have created almost 20% more jobs than our closest competitor. Canada posted the strongest business investment record in the G7 during the recovery.
Both the International Monetary Fund and the Organisation for Economic Cooperation and Development expect Canada to show solid economic growth in the coming years. For the seventh consecutive year, the World Economic Forum rated Canada's banking system as the soundest in the world. Canada leapt from sixth to second place in Bloomberg's ranking of the most attractive destinations for business.