Do we have one? I am happy to answer questions now if the member would like. Do we have one? We have one of the fastest-growing economies in the G7. We have the lowest debt-to-GDP ratio in the G7. Do we have a fast-growing economy? This economy is among the best that we have seen. Notwithstanding the heckling that is coming from the other side of the House, I would beg to differ with my colleague who made that comment.
I will say that this is why something like amending the basic allowance for personal income before taxes is so key. It is because this takes it another step forward.
This is to help those who are struggling to make it. It lets us give them a break.
The numbers that we are talking about here would put $3 billion back into the pockets of Canadians in 2020 and up to $6 billion by 2023, which will affect 1.1 million more Canadians who would pay zero in federal income tax. What we are doing is putting money back into the pockets of Canadians. Some people who need it the most would be getting an additional $300 per year. Families would be saving, through the reduction in taxes, an additional $600 a year.
What are those people who are getting an extra $300 a year going to do? This is a rhetorical question to my colleague from British Columbia, but they are not going to put it in a tax-free savings account. They are not going to be putting it into an investment that does not help the economy work. They are going to be putting it right back into the economy by spending that money.
Who does better when people are spending money in the economy? The government does better. Guess what the government can do when they do better? They can start bringing in more policy like this to give more breaks, and that is what we are seeing.