Mr. Speaker, I wish I could say it is my pleasure to stand today and speak to this piece of legislation. Unfortunately, it is not, but it is important to put some views on record. These are the views of my constituents that I talked to during the election campaign.
As I went from door to door through various communities, the issue of the tax-free savings account was seen as a very creative way that as we move away in the future from defined benefit plans, the tax-free savings account was something that they could contribute to and rely on as they went through their retirement years.
We have seen, in the 150 or so days that the government has been in power, promise after promise being broken, but this is one promise that I wish the government had broken.
I have reflected on how some of these decisions were made by the Liberal campaign team. I envisioned that when the Liberal plane was flying over Sault Ste. Marie, the Liberal leader decided he did not have a promise to make when he landed in Winnipeg, because everywhere he went, he wanted to promise something. Some bright staffer said, “Let us give a middle-class tax cut.” Nobody really knows what the middle class is, and I will come back to that in a minute.
One of the staffers pipes up and says, “That will cost us a lot of money. How are we going to make up that revenue?” The leader says, “Well, we will just put this little tax on the rich, and in addition we will roll back that promise of the TFSA from $10,000 to $5,000 which should make this revenue neutral.”
Of course, we have seen in the House that it is not revenue neutral. It was a broken promise. It was an ill-thought-out promise, and now we are going to be paying for it.
What my constituents want to see is logical planning going forward. The do not want to see programs that were designed on the back of a napkin, and that is what we have seen too much of with the current government.
I want to talk about this new terminology of the so-called middle class, a term that has been glommed onto by the Prime Minister and the Minister of Finance. When the finance minister appeared before the House of Commons finance committee, I asked him to explain what his definition of middle class is. He did not answer, and I do not believe the Liberals know what they are referring to when they talk about the middle class.
I asked the finance minister, “If I am not middle class, what am I?” Am I lower class, upper class? What am I, if I am not middle class? I call on the government to start to define some of the terminology that it uses, because in this country we do not have a class system. We have a system whereby we can work and improve our standard of living. I am frankly one who is offended by continuing to hear this term “middle class” thrown around as though there is a particular level of Canadians who might be better than other Canadians. That is one of the problems that I have with these bills that have been thrown out and designed to appeal to a segment of the voting population.
We all know that the TFSA is a program that has been incredibly successful. On this side of the House, we have tried to impress that some 11 million Canadians have in one way or another contributed to the TFSA. I would dare to say that if the government left the commitment to move to a $10,000 level alone and even looked at increasing it further down the road, many more Canadians would be contributing to a TFSA, and we would not have some of these unfunded pension liabilities that we are starting to face with our baby boom population.
I would appeal to those members who are so disposed to think about this. We have a vote coming up fairly soon, and I would appeal to a couple of my colleagues from Calgary, the member for Calgary Skyview and the member for Calgary Centre, who is the Minister of Veterans Affairs. I know they have taken a lot of heat over the past couple of weeks because they chose to be whipped and vote against supporting the energy east pipeline.
When the vote comes and the Speaker asks the House who would oppose this motion, this is a great opportunity for the member for Calgary Skyview to stand to vote with his constituents, not to vote the way the whip nods his head up and down or sideways.
We also have the Minister of Veterans Affairs and Associate Minister of National Defence, with whom I have had many a discussion. I know his constituency very well. I know many people who live in his riding. I know for a fact that they support what we did with the TFSA increase.
This is a great opportunity for the Minister of Veterans Affairs and Associate Minister of National Defence to raise his hand and say that he probably made a mistake in not supporting the energy east motion put forward by the Conservatives and that there is an opportunity to amend that vote with his constituents. I throw that challenge out to my colleagues from Calgary and I hope they take up that challenge when we vote later tonight, or whenever the vote is called.
I would like to come back to the whole idea of savings. It has been well-documented that we are in a situation where far too many people are over-leveraged and far too few people are saving for the future. As government, as legislators, we need to ensure we have models in place that if a third of Canadians want to save for their future and not rely upon some unfunded pension that may or may not be there, as our baby boomer population starts to increase in age and if we nurture the TFSA well, there is clearly no reason why it could not continue to succeed. This was a positive first step, with the increase to $10,000. I would strongly encourage some of those members on the other side who have said that they support the TFSAs to take this opportunity to show their leader and Minister of Finance that we need to ensure we have in place programs that will allow Canadians to make some of their own decisions.
One of the concerns I have as we ratchet back the TSFA program is that we will find ourselves increasing the amount that small business will have to pay into the Canada pension plan. It will give retirees less opportunity, less ability, to manage their retirements funds. That is a wrong-headed approach under this plan.
With those few words, I would encourage some members of the government to send a message to their finance minister that this is wrong legislation. I will not be supporting it.