House of Commons photoLost his last election, in 2015, with 43% of the vote.
Business of Supply May 25th, 2015
Mr. Chair, Canada has one of the strongest retirement income systems in the world. One of the pillars of that system is the old age security program.
Since taking power, our government has introduced numerous measures to give Canadians more savings options and to ensure that seniors enjoy financial security in retirement.
Business of Supply May 25th, 2015
Mr. Chair, economic action plan 2015 includes several measures to help seniors, such as reducing the minimum withdrawal factors for registered retirement income funds so that seniors can preserve more of their savings to better meet their financial needs in retirement.
Business of Supply May 25th, 2015
Mr. Chair, as I said, we are proud of the fact that poverty rates in Canada are lower than elsewhere in the world. That is due to many of our initiatives. We have a very progressive tax system. A million people who used to have to pay tax no longer have to.
Business of Supply May 25th, 2015
Mr. Chair, I am proud to say that we have the lowest poverty rate among seniors in the world.
Business of Supply May 25th, 2015
Mr. Chair, as a result of the measures we have taken since 2006, seniors and pensioners receive additional targeted tax relief of about $3 million a year, and these measures include a $2,000 increase in the age credit amount and the introduction of pension income splitting. Furthermore, the government created a guaranteed income supplement top-up benefit for Canada's most vulnerable seniors and strengthened the retirement income system.
Business of Supply May 25th, 2015
Mr. Chair, I am not in the business of forecasting housing prices. I can say that we have introduced a number of important measures to take the froth out of the market.
We continue to monitor the market very carefully, but the Governor of the Bank of Canada, the head of the IMF, CMHC, the OECD, and the Department of Finance all believe that while there may be a soft landing, it is not a bubble.
Business of Supply May 25th, 2015
Mr. Chair, my esteemed predecessor was commenting on something that did not include the current overall family benefit program. In addition, it is worth noting that we put in a $2,000 cap, which I think went a long way in dealing with the issue. When it is combined with everything else, he would have been pleased with the progressive nature of this program in benefiting low- and middle-income Canadians.
Business of Supply May 25th, 2015
Mr. Chair, as I said, single parents and lower-income families with children will benefit from the enhancement of the UCCB and may benefit from the increase in the child care expense deduction dollar limits if they were at the previous maximum limits and have additional eligible expenses.
All Canadians, including single Canadians and lower-income Canadians, also benefit from the GST rate reductions and broad-based income tax relief, such as a reduction in the lowest personal income taxes introduced by our government and the—
Business of Supply May 25th, 2015
Mr. Chair, as I said, the combined package is of benefit to all four million families with children, disproportionately so to those in the lower- and middle-income classes, and 25% to families earning less than $25,000 a year.
Business of Supply May 25th, 2015
Mr. Chair, as opposed to being right or wrong, I guess we can rely on the hon. member for having made a decision that he may currently regret but has to stick to.
What we are talking about here is a total package of benefits to all four million Canadian families, all of whom benefit, and disproportionately so for low- and middle-income Canadians.