Jim Peterson

[Taxation, December 1st, 1997]

Mr. Speaker, yes, we look forward to the report of the finance committee as well as to the report of the Mintz committee.

As well, we have already undertaken some important reforms. We are the party for example that has abolished the $100,000 lifetime capital gains exemption. We have restricted the use of tax shelters. We have eliminated the advantages for family trusts. We have also dealt with the issue of taxpayer migration.

It is important to recognize that Canada has the most progressive income tax system in the G-7. Two per cent of tax filers have an income over $100,000. They pay 21% of taxes. We will continue to look forward to methods of improving—

[Canada Pension Plan, December 1st, 1997]

Mr. Speaker, when it comes to payroll taxes, that is the government that started out with EI premiums at $1.95 heading to $3.30. We have cut them four times: to $3, to $2.95, to $2.90 and now to $2.70. We do not have anything to learn about payroll taxes from that side of the House.

[Canada Pension Plan, December 1st, 1997]

Mr. Speaker, as I said earlier, Canada still has the lowest payroll taxes of any country in the G-7.

Under the Conservatives, not one responsible action was taken to deal with the growing crisis in the CPP, a deficit that was going to be unfunded by the year 2030 of $6 billion. But we acted. We acted with the provinces. We acted on behalf of workers and present and future pensioners and we are proud of it.

[Taxation, December 1st, 1997]

Mr. Speaker, I wish the hon. member would recognize that Canada has the lowest payroll taxes of the G-7.

It would be totally irresponsible for us to announce massive across the board tax decreases when we still have a deficit.

[Taxation, December 1st, 1997]

Mr. Speaker, he has done this totally without my assistance. The finance minister has cut EI premiums by an accumulative amount of $7.1 billion since we took office. The finance minister has cut taxes for the families of the working poor, for the disabled, for charities and voluntary organizations, for students and their parents. This is what the finance minister has done.

[The Economy, December 1st, 1997]

Mr. Speaker, as I have said to the hon. member, we are committed to debt reduction. We have already demonstrated our commitment by deeds and actions.

We are committed to making sure we have the strongest social and economic framework for Canadians for the future and to ensure opportunities for all Canadians from coast to coast. We are also committed to reducing taxes which we know in many cases are high.

[The Economy, December 1st, 1997]

Mr. Speaker, we have already paid down $16 billion of debt this year. Our government is going to take a very balanced approach. We will continue to pay down the debt, we will reduce taxes and we will strengthen our social and economic framework.

[Canada Co-Operatives Act, November 28th, 1997]

moved:

Motion No. 1

That Bill C-5, in Clause 85, be amended by replacing lines 28 to 30 on page 49 with the following:

“(b) subject to subsection (8), appoint a director to fill the vacancy.”

[Debt Reduction, November 28th, 1997]

Mr. Speaker, I am happy to announce that we tried to achieve balanced fiscal programs.

We are well aware that the tax burden is considerable. We know that our debt has to be reduced, and we also have to maintain the social programs that are very important to all Canadians.

[The Economy, November 28th, 1997]

Mr. Speaker, our record has been to create over one million jobs since we have taken office. We realize this is not enough and we want to see it go even further. In terms of interest rates, Canada today as a result of the sound economic policies we have pursued, has the lowest five-year mortgage rate in history. We have the lowest 30-year rate on our debt. These are sound accomplishments on behalf of all Canadians.