Madam Speaker, as we have made clear in the course of the debate on Bill C-4, most of the benefits of the tax cut would go to hard-working Canadians. That is because the bulk of its tax relief would go to those Canadians with incomes in the lowest two tax brackets, which includes those with taxable incomes under $114,750 in 2025. Within that group of hard-working Canadians, nearly half of the tax savings would go to those in the lowest tax bracket, which are those who earned $57,000 or less in 2025.
We can see how the tax savings from our middle-class tax cut would go to those who need it. What is more, these savings would also be realized when they need it most. That would start on Canada Day.
We would be able to deliver these tax savings to Canadians on a priority basis because, with the announcement of our middle class tax cut, the Canada Revenue Agency has updated its source deduction table—