Mr. Speaker, I want to reassure that opposition member that, on the contrary, we listened to Canadians from coast to coast to coast. The minister and I held cross-Canada consultations. We also received online submissions from thousands of Canadians.
Regarding passive income, we announced the establishment of a passive investment income threshold of $50,000 a year. We will also have a grandfather clause protecting all past passive investments and the income earned from such investments, to ensure that companies that are not really there to create jobs are taxed more in the interest of improving tax equity, which has always been our goal.
I urge the member to read the parliamentary budget officer's recent report, which said that of the 1.8 million Canadian-controlled private corporations, only the wealthiest 2.5% will be affected. This means the small businesses in our ridings will not be affected. We are behind small business owners.