Madam Speaker, I formally welcome the hon. member to the finance committee. He just joined the committee and brings a wealth of knowledge.
Although we disagree on almost everything that comes up at committee, from time to time, we find an area of agreement. The CPP enhancement is not one of those areas. He mentioned the same thing that the Conservative Party mentioned in its campaign, namely, that we should increase the TFSA. The fact of the matter is that a lot of Canadians cannot afford to meet the current threshold of the TFSA.
The number one reason the CPP enhancement is needed is that 48% of Canadians in 1971 had defined benefit contribution plans provided by their employers, but only 25% by 2011, and that number is declining further. The CPP enhancement is critical to ensure that Canadians have a safe and secure retirement. I encourage the member opposite not just to delete every clause in this bill but to bring forward ideas that would help Canadians have a safe and secure retirement. I encourage his party to support this bill.