Mr. Speaker, it is a pleasure to respond to a question from a colleague and a good friend as well.
I do not have to remind my colleague of our previous government's record on reducing taxes. Over 140 taxes were reduced in our 9 years in government. We brought the tax regime for every Canadian down to the lowest level in 50 years.
However, the problem with Bill C-2, as I explained in my address, is that it does not just cut taxes for some Canadians. It would penalize every Canadian by not allowing them to max out their TFSAs to the levels that our government introduced. Everyone's contribution limits for TFSAs would be cut by $5,000. That is unacceptable and I certainly will not be supporting Bill C-2.