Mr. Speaker, I am pleased to have the opportunity to ask my colleague an important question about the TFSAs.
As everyone knows, when our government introduced TFSAs, more than 11 million Canadians decided to use this vehicle. Most of them were not wealthy people. However, this allowed them to shelter their savings from taxes. They were able to save on their own terms. No one forced them to invest in this type of savings plan.
The solution my colleague is proposing is far from being the solution to all our problems. As a business owner, I can tell you that if I have to invest $1,000 per employee, per year, in my business, I might be forced to cut some positions in order to afford this premium.
Can my colleague explain why they lowered the TFSA ceiling to $5,000, when we know that millions of Canadians saved money through this important savings vehicle?