Mr. Speaker, my understanding of the tax-free savings account is that it is something to help our seniors.
One of the ways this really helped was that when a senior sold their home and moved into a long-term care facility, they were able to place money in a tax-free savings account where the money would gain interest from the investments they made with that money, and that money would be tax-free.
That was one of the reasons we were very proud to introduce the tax-free savings account. If it is such a bad idea, why are the Liberals not repealing the entire thing instead of just the top $5,000?
I would say that we should improve it and put a $10,000 limit there so that our seniors can benefit more from this great program.