Mr. Speaker, I thank my colleague, with whom I cross paths regularly at the Standing Committee on Finance.
I also want to thank him for explaining really clearly how the Conservative Party wants to protect the wealthiest members of our society, at the expense of the majority of Canadians. He did this twice. First of all, when he talked about taxation, of course, he almost seemed to suggest that what the Conservatives really want is a flat tax rate.
It is called a flat tax in English, which obviously would be paid by the lower-income earners and the middle class to compensate for the lower taxes paid by the richest.
I also want to come back to the issue of TFSAs. My Liberal colleague mentioned in his comments that only 7% of Canadians make the maximum TFSA contribution at the current limit. If the limit were doubled, the same 7% would be able to double their contribution. This would be very harmful to public finances in the long term, given that the parliamentary budget officer stated that this measure would cost nearly 0.7% of GDP, even though 0.7% of GDP was too much to spend on international aid.
How can he justify increasing the limit, knowing that it will place such a heavy burden on our public finances and undermine our ability to provide the high-quality services that Canadians expect?