Madam Speaker, what the member opposite needs to realize is that the government's approach on income taxes will end in failure. We know how this has worked in the past.
From 1971 to 1986, the Government of Canada went to 10 federal income tax brackets and an upper marginal rate of 34%. What happened by the mid-1980s? The economy was in trouble, and it was why the government of 1984 won its mandate. The economy was in trouble, jobs were fleeing the country, foreign investment was fleeing, unemployment was high, and people were losing their jobs, their livelihoods, and their income.
Therefore, in 1980, the government of Brian Mulroney dropped the number of brackets from 10 to three and dropped the upper marginal rate from 34% to 29%. What did we have? We had 20-plus years of economic growth and prosperity and incomes.
We are now back up to five brackets and an upper marginal rate of 33%. It is not going to work, and some future government is going to have to undo it.