Mr. Speaker, I am glad my colleague used the word “investment”, because I was astonished to hear some people suggest that this is a tax. If I put money in my savings account, I do not call it a tax. This is an investment in the future when people become seniors. I, and I am sure many other people, did not have the discipline when I was young to put away the money I should have. I bought a boat, canoes, and kayaks and did not set aside money for my old age.
To help our youth, we increased the student grant program to help them afford what they are doing. At the same time, when they get into the work world, they will be able to contribute to their Canada pension plan when they are young and healthy so they can have at least one-third of their salary when they retire and can try to come up with other ways to supplement that and survive, because as someone mentioned, that is not nearly enough.
This will be a help to people really in need who are elderly.