House of Commons photoWon his last election, in 2011, with 78% of the vote.
Seniors November 24th, 2008
If the hon. member could be quiet long enough to listen to my answer she may hear the fact that we have actually taken those steps that allow seniors to roll RRSPs into RRIFS.
Yes, there is tax payable but let us remember that this is a tax shelter for seniors.
Seniors November 24th, 2008
Mr. Speaker, that is not the case and it is unfortunate that she is invoking Santa Claus into this debate.
We have taken pre-emptive moves. We have allowed seniors--
Seniors November 24th, 2008
Mr. Speaker, in another pre-emptive move by the finance minister, we raised the age from 69 to 71 when seniors were actually required to roll their RRSPs into RRIFs.
Let me be very clear. On Friday, the finance minister wrote letters to all of the federally regulated institutions that handle RRSPs and RRIFs and told them that they had to allow seniors to roll penalty-free. We are looking forward to a reaction by November 28.
The Economy November 24th, 2008
Mr. Speaker, that is why we put the changes to the EI system in budget 2008. We knew there was some trouble on the horizon. We knew that the notional surplus was long gone before the Conservatives ever took power.
The next budget will address many of the questions that the hon. member is raising today.
The Economy November 24th, 2008
Mr. Speaker, we will be waiting for some positive suggestions from that party. We have received some from the Bloc. We are looking forward to some of those positive suggestions. We are also looking forward to the fall economic update on Thursday.
We do have a budget coming down early in the next year and that will provide the details that this House needs.
The Economy November 24th, 2008
Mr. Speaker, let me read a quote in answer to this question. This comes from the Manitoba NDP government's Speech from the Throne:
The global crisis presents a fundamental choice between stepping back from planned tax reductions or providing predictability to businesses and citizens. Our choice is to maintain predictability. Therefore, our government will carry through on past budget commitments...In July, 2009 the corporate tax rate will be reduced again.
The Economy November 24th, 2008
Mr. Speaker, I am looking forward to sitting down with my hon. colleague to discuss how we can implement his suggestions.
We have some challenges ahead of us but we need to recognize that the bulk of the tax cuts that we put in place went to individuals so they could make their own decisions about how to spend that money. Whether they want to start a new business or continue with their lifestyle, those are the options Canadians should be given. I look forward to working with my hon. colleagues to help improve that.
The Economy November 24th, 2008
Mr. Speaker, I would like to take this opportunity to welcome those suggestions from the Bloc this morning.
The minister and the Prime Minister have been asking for some constructive observations, some suggestions as Bloc members put forward this morning as to what they feel they need in their communities.
I would encourage all members in the House to approach the Prime Minister and the finance minister with some suggestions rather than just the heckling we are hearing from the other side.
The Economy November 24th, 2008
Mr. Speaker, as I have said on many occasions, we took pre-emptive moves that put money back into Canadians' pockets.
We also established a $1 billion community development trust fund that was specifically set up for communities that were impacted by layoffs, many of them in Quebec and many in northern Ontario. That is money that communities have had to invest in their infrastructure.
We put in place a $33 billion infrastructure fund that will be spread out across this country. That is stimulus.
The Economy November 24th, 2008
Mr. Speaker, I might remind the hon. member that I just referred to today's announcement by the United Kingdom of $38 billion in tax cuts, a reduction of 1.5% in its value-added tax.
We took those pre-emptive moves in our fall economic update a year ago. That was $37 billion back in Canadians' pockets so they could prepare themselves for this downturn in the economy.