Mr. Speaker, my understanding of the tax-free savings account is that it is 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.