Finance  Mr. Speaker, the fact remains that we continue to reduce taxes for the middle class. In addition to that, we have seen the lowest unemployment rate in nearly 40 years, and as a result of our investments, a typical Canadian family will be approximately $2,000 better off than under the previous Conservative government.

Employment  Mr. Speaker, Canada has made great progress, but there is more work to be done. Young Canadians still feel that they do not have the same economic opportunities afforded to their parents. They are hard working, talented and ambitious and have the right skills, but there are still challenges to addressing the changing labour market.

Employment  Mr. Speaker, the fact remains that Canada and our government are firmly focused on investing in small businesses and ensuring that we create a competitive economy for entrepreneurs to grow their businesses. We have lowered small business taxes and taxes on the middle class. The Minister of Finance pointed out yesterday that we have had 8% growth in business investment in the last six consecutive quarters.

Multilateral Instrument in Respect of Tax Conventions Act  Mr. Speaker, this would be good news for Canada. This would be good news for businesses and Canadians, because it would create a fair tax system. As I said in answer to the last question, this would work in conjunction with other measures this government has taken. The hon. member mentioned Barbados.

Multilateral Instrument in Respect of Tax Conventions Act  Mr. Speaker, to clarify, this legislation does not include anything with regard to double taxation. This legislation is specifically with regard to the MLI, which relates to base erosion, profit shifting and treaty shopping. Double taxation or the sharing of information is not part of this legislation.

Multilateral Instrument in Respect of Tax Conventions Act  Mr. Speaker, I will reiterate once again that we actually lowered taxes for the middle class and increased them for the 1%, which I believe my hon. colleague voted against. This legislation is specific to profit shifting, base erosion and treaty shopping. This is what we are focused on.

Multilateral Instrument in Respect of Tax Conventions Act  Mr. Speaker, I thank my hon. colleague for mentioning my recent appointment. I am very excited to be in this role. Let me start with the point about young people. What young people want as they graduate and get new jobs is stability and fairness in the tax system, just like anyone else.

Multilateral Instrument in Respect of Tax Conventions Act  Mr. Speaker, I agree that tax fairness needs to be at the core of our system so that all Canadians are paying their fair share. That is precisely why one of the first things we did was lower taxes for middle-class Canadians and actually raise them for the top 1%. In addition, I want to be very clear that this legislation would not replace or amend.

Multilateral Instrument in Respect of Tax Conventions Act  Mr. Speaker, I am pleased to rise in the House to speak to this important piece of legislation, one that would help bring more fairness to the tax system and help our government continue its work to strengthen and grow the middle class. To have an economy that works for everyone, we need a tax system that is fair, and we need all Canadians to pay their fair share.