$8 BILLION HOLE IN RECKLESS NDP SPENDING PLANS

NDP will massively hike taxes on Canadian families
The Honourable Jason Kenney today outlined an $8 billion hole in the NDP’s
reckless spending plans. He called on Thomas Mulcair to come clean with
Canadians on how he plans to pay for the billions upon billions of new spending
promises.
New NDP spending promises total $13.8 billion in the first year, growing to
$34.5 billion when fully implemented. This total does not even include 125
promises not yet costed. But even the NDP’s job killing tax hike on business
and taking away benefits for families does not even come close to covering the
cost of these new promises, leaving Canadian taxpayers on the hook for $8
billion.
This means the NDP will impose massive tax hikes on Canadian families – on
top of the tax hikes the NDP has already promised.
“Canadians can’t afford the NDP,” Kenney said. “We are only a third of the way
through this campaign and already their reckless spending would mean massive
tax hikes. The NDP have said they would raise taxes on our job-creators, cancel
income splitting for Canadian families as well as the recent TFSA increases, but
this still leaves them with the need for at least $8 billion in additional taxes in year
one alone – the year they claim they will also balance the budget.”
Since becoming leader, Mulcair and his NDP team have promised impractical
increases in EI spending, a massive government-run daycare scheme that would
benefit only a small percentage of Canadian families, questionable investments
in green energy, a massive social housing plan, and a $9 billion dollar increase in
spending for foreign aid.
This is a clear contrast with the approach of Prime Minister Stephen Harper
who has cut taxes for Canadian families while keeping our economy strong.
Conservatives have lowered the tax burden for the average Canadian family by
$6,600, all while preserving programs Canadians count on and balancing the
budget.
“Tax increases to pay for the NDP’s reckless promises would wreck our
economy,” Kenney said. “Canadians already know that the NDP cannot control
spending, and their promises just prove that.”
“In this election every Canadian voter needs to ask the simple question,” Kenney
concluded, “Which leader has the proven experience to keep our economy
strong?”

8/30

1

NDP  SPENDING  PLANS
ITEM
EI  Replacement  Rate  from  55%  to  60%  
360-­‐Hour  Replacement
GIS
Government-­‐run  daycare  
CBC  funding  increase
Mail  Delivery  
Green  R&D  and  renewable  energy    
ecoENERGY  Retrofit  program
Transfers  to  Provinces
National  housing  strategy
Double  gas  tax  transfer  to  municipalities  
Transit  Plan
Foreign  Aid
Destination  Canada
Disaster  Preparedness
Officer  recruitment  
Total  New  Spending

COST
(initial  year)
$1,615,000,000
$2,180,000,000
$100,000,000
$290,000,000
$80,000,000
$400,000,000
$1,155,000,000
$355,129,695
$0
$5,500,000,000
$500,000,000
$1,300,000,000
$250,000,000
$10,000,000
$9,000,000
$62,500,000
$13,806,629,695

Corporate  Tax  Increase  
Cancel  Income  Splitting
TFSA  Increases
Identified  New  Revenue

$3,700,000,000
$1,935,000,000
$160,000,000
$5,795,000,000

MINIMUM  SHORTFALL

-­‐$8,011,629,695

Cost
(Full  or  2020/21)
$1,615,000,000
$2,180,000,000
$400,000,000
$5,000,000,000
$115,000,000
$400,000,000
$2,155,000,000
$355,129,695
$4,942,877,122
$5,500,000,000
$1,500,000,000
$1,300,000,000
$9,000,000,000
$10,000,000
$9,000,000
$100,000,000
$34,582,006,817

DATE
30-­‐Apr-­‐13
30-­‐Apr-­‐13
24-­‐Aug-­‐15
14-­‐Oct-­‐14
22-­‐Jan-­‐15
21-­‐May-­‐15
17-­‐Dec-­‐13
10-­‐Dec-­‐14
10-­‐Dec-­‐14
10-­‐Dec-­‐14
06-­‐Jun-­‐15
06-­‐Jun-­‐15
01-­‐Mar-­‐12
17-­‐Aug-­‐15
18-­‐Aug-­‐15
19-­‐Aug-­‐15

SOURCES
MP  websites  and  debate  on  Bill  C-­‐44
MP  websites  and  debate  on  Bill  C-­‐44
NDP  Campaign  press  release
Backgrounder:  Mulcair's  Plan  -­‐  Affordable  Childcare
Backgrounder:  Mulcair’s  Plan  -­‐  Protecting  Our  Public  Broadcaster
NDP  News  Release,  The  NDP  will  reinstate  door-­‐to-­‐door  mail  delivery
NDP  Finance  Committee  Minority  Reports,  Dec  2013  &  Dec  2014  
NDP  Finance  Committee  Minority  Reports,  Dec  2013  &  Dec  2014  
NDP  Finance  Committee  Minority  Report,  Dec  2014
NDP  Finance  Committee  Minority  Report,  Dec  2014
NDP  Press  Release,  Speech  to  FCM,  NDP  Finance  Committee  Minority  Report.
Press  Release,  Tom  Mulcair’s  plan  to  build  stronger  cities  and  communities
Thomas  Mulcair  leadership  documents
NDP  Campaign  press  release
NDP  Campaign  press  release
NDP  Campaign  press  release

23-­‐Aug-­‐15 Canadian  Press,  Mulcair  statements
21-­‐Apr-­‐15 Mulcair  statements
21-­‐Apr-­‐15 Mulcair  statements  

NOTE:  We  have  made  every  attempt  to  use  NDP  sources  or  numbers  for  our  cost  estimates.  That  does  not  mean,  however,  that  we  accept  those  estimates  as  authoritative.  For  
example,  we  stand  by  our  longstanding  dynamic  forecast  of  $4  billion  for  the  cost  of  360  Hour  Replacement  even  though  we  have  used  the  PBOs  static  estimate  here.

8/30

2

EI Replacement Rate from 55% to 60%
NDP Promise:
“…. raising the rate of benefits to 60% rather than what it is today and improving the
quality and monitoring of training and retraining across the country, so that individuals
have the ability to improve their skills while they are on EI benefits.” – Rathika
Sitsabaiesan, September 27, 2012
- “In Debate: Bill C-44 Changes to Employment Insurance,” September 27, 2012.
http://rathikasitsabaiesan.ndp.ca/post/in-debate-bill-c-44-changes-to-employmentinsurance
“Further to this point, and to ensure that EI provides meaningful benefit levels, the rate
of benefits should make their way to 60 per cent of insurable earnings.” – Matthew
Kellway, October 1st, 2012
- “Matthew Kellway Outlines Impact of Changes to EI Program,” October 1st, 2012.
http://matthewkellway.ndp.ca/matthew-kellway-outlines-impact-of-changes-to-eiprogram
- “Increase the benefit rate to 60% and calculate benefits based on the best 12 weeks in
the reference period;” – Megan Leslie, April 30th, 2013
“NDP on Employment Insurance,” April 30, 2013. http://meganleslie.ndp.ca/ndp-onemployment-insurance
Costing
Parliamentary Budget Office:
http://www.pbo-dpb.gc.ca/files/files/Publications/PMB_EI_Note.pdf
-

2014/15 estimated cost of $1,615 Billion

TD Bank
http://www.td.com/document/PDF/economics/special/td-economics-special-gb0409ei.pdf
-

8/30

2009 estimated cost of $1.25 billion

3

360-Hour Replacement
NDP Promise
“Bring the eligibility threshold back to a minimum of 360 working hours, regardless of
the unemployment rate in the applicant’s area;” – Megan Leslie, April 30th, 2013
- “NDP on Employment Insurance,” April 30, 2013. http://meganleslie.ndp.ca/ndp-onemployment-insurance
“As the last proposition, I would propose that we return the qualifying period to a
minimum of 360 hours of work, irrespective of the regional rate of unemployment. This
is a critically important proposition.” – Matthew Kellway, October 1st, 2012
- “Matthew Kellway Outlines Impact of Changes to EI Program,” October 1st, 2012.
http://matthewkellway.ndp.ca/matthew-kellway-outlines-impact-of-changes-to-eiprogram
“We called for eliminating the two-week waiting period for people to qualify for EI
benefits, returning the qualifying period to a minimum of 360 hours of work regardless of
the regional rate of unemployment, raising the rate of benefits to 60% rather than what it
is today and improving the quality and monitoring of training and retraining across the
country, so that individuals have the ability to improve their skills while they are on EI
benefits.” – Rathika Sitsabaiesan, September 27, 2012
- “In Debate: Bill C-44 Changes to Employment Insurance,” September 27, 2012.
http://rathikasitsabaiesan.ndp.ca/post/in-debate-bill-c-44-changes-to-employmentinsurance
Costing
Parliamentary Budget Office:
http://www.pbo-dpb.gc.ca/files/files/Publications/PMB_EI_Note.pdf
-

2014/15 estimated cost of $2.18 Billion

Joe Oliver letter to the editor:
http://www.thestar.com/opinion/letters_to_the_editors/2014/09/28/liberal_ei_plan_on_wr
ong_track.html
-

8/30

2014/15 cost of $4 Billion

4

GIS
NDP Promise
“An NDP government will complete the work started by Jack Layton and boost
the Guaranteed Income Supplement (GIS) by $400 million, as well as consult
with experts and stakeholders to ensure seniors that are most in need will
benefit from this initiative. The NDP has already committed to reversing Stephen
Harper’s plan to raise the eligibility for Old Age Security from 65 to 67.”
http://www.ndp.ca/news/mulcair-announces-plan-to-lift-200000-seniors-outpoverty
Costing
Mulcair said that the NDP would start by increasing GIS by $100 million rising to
$400 million year 4.

8/30

5

DayCare
NDP Promise
“Tom Mulcair and the New Democrats will create a Canadian early childhood education
and childcare program with a goal that parents won’t pay more than $15 per day per
child. Here’s how:
Work with the provinces, territories and Indigenous communities to fund and
develop national early childhood education and childcare programs delivered with
common principles like affordability, availability and quality.
Enshrine the program in legislation.
Ensure long-term, predictable funding so provinces and communities can plan
ahead: this will be phased in over an eight year time period.
Set measurable benchmarks with publically available reporting.
Support or maintain the creation of one million new childcare spaces within eight
years, when the program is fully phased in.
Recognize that provinces and territories have jurisdiction over the delivery of early
childhood education and child care.





“Mulcair’s plan progressively boosts federal investment in childcare. After eight years,
this annual federal investment will have increased by $5 billion. The first step, to be
achieved within four years, is to fund 370,000 new affordable childcare spaces with an
annual investment of $1.9 billion.”
Media Backgrounder: Mulcair's Plan - Affordable Childcare. October 14, 2014.
- http://www.ndp.ca/sites/default/files/news/141014-childcare-mediabackgrounderen_ottawa.pdf
Costing
http://www.ndp.ca/sites/default/files/news/141014-childcare-mediabackgrounderen_ottawa.pdf
-

8/30

$390 million in year one growing to total cost of $5 billion

6

CBC
NDP Promise
“Tom Mulcair’s New Democrat team will strengthen our public broadcaster—by
providing the tools it needs to carry out its mandate effectively:

Cancel the $115 million in cuts announced in the 2012 budget;”

- Media Backgrounder: Mulcair’s Plan - Protecting Our Public Broadcaster. p. 2. January
22, 2015.- http://www.ndp.ca/sites/default/files/news/20150122-cbc-radcanbackgrounder_en.pdf
Costing
“Everything that we’re putting on the table has been costed – Same thing here. 3 year, 3
budget cycles. 80 the first year, 100 the second, and back, the $115 full back the third
year.” – Tom Mulcair
CBC Sunday Edition with Michael Enright - Sunday February 15, 2015

8/30

7

Mail Delivery
NDP Promise
“An NDP Government will cancel Canada Post’s plan to eliminate door-to-door mail
delivery and will reinstate delivery in all communities affected by cuts announced in
December 2013.
- “The NDP will reinstate door-to-door mail delivery,” May 21, 2015.
http://www.ndp.ca/news/ndp-will-reinstate-door-to-door-mail-delivery
Costing
The one-year cost for reversing the community mailbox policy is estimated to be
between $400M and $500M per year.
These estimates are derived from Canada Post’s own action plan, which places the
annual savings – at full implementation – the following way:


Community mailboxes: $400 million to $500 million
Higher stamp prices: $160 million to $200 million
Franchise post offices and streamlined operations: $140 million to $200 million

http://www.canadapost.ca/cpo/mc/aboutus/news/pr/2013/2013_action_plan.jsf

8/30

8

Green R&D and renewable energy
NDP Promise
“Support renewable energy sectors to help Canada grow and succeed in a new global
economy.”
“Help industry capture the benefits of clean technology markets by supporting green
R&D”
- Budget 2014: NDP Pre-budget Consultation Supplementary Report, Building a fairer,
greener, more prosperous Canada for all, FINA, December 17, 2013
http://www.parl.gc.ca/HousePublications/Publication.aspx?DocId=6380037&Language=
E&Mode=1&Parl=41&Ses=2&File=342
Costing:
2011-12

2012-13

2013-14

2014-15

Investing in Canada’s
Green Future

500

500

1500

1500

Supporting Green
Innovation: From Lab to
Market

100

100

100

100

Green Bond Fund

85

85

85

85

Tax Break for Green
Technology

95

95

95

95

Green Job Creation Tax
Credit

375

375

375

375

1,155

1,155

2,155

2,155

TOTAL

NDP 2011 Platform Costing Document, Green Initiatives.

8/30

9

ecoENERGY Retrofit Program
NDP Promise
“The Government should restore investment in home energy efficiency retrofits to help
Canadians reduce energy consumption and home energy bills.”
- Budget 2015: NDP Pre-budget Consultations Supplementary Report; Choosing a
Fairer and More Prosperous Canada, December 10, 2014
http://www.parl.gc.ca/HousePublications/Publication.aspx?DocId=6830258&Language=
E&Mode=1&Parl=41&Ses=2&File=366
“Restore the ecoEnergy energy efficiency home retrofit program.”
- Budget 2014: NDP Pre-budget Consultation Supplementary Report, Building a fairer,
greener, more prosperous Canada for all, FINA, December 17, 2013
http://www.parl.gc.ca/HousePublications/Publication.aspx?DocId=6380037&Language=
E&Mode=1&Parl=41&Ses=2&File=342
“The ecoENERGY Retrofit – Homes program was so popular with Canadians—reducing
heating bills, helping the environment, and creating clean energy jobs—that the NDP
wants Parliament to review its cancellation by the Conservative government.”
- “NDP introduces motion to save popular home retrofit program,” March 14, 2012
http://www.ndp.ca/news/ndp-introduces-motion-to-save-popular-home-retrofit-program
Costing
At its peak in 2011, the program was granting $355.12 million per year and was over
subscribed in that year. If the program was not capped, it would cost at least that much
each year going forward.
Public Accounts of Canada 2012:
https://www.safec.ca/userfiles/file/Économie/EN/04%20Studies/47%20Government%20
finance%20and%20economy/475%20Public%20accounts%20of%20Canada/Public%20
Accounts%20of%20Canada%202012-vol%202.pdf

8/30

10

Transfers to Provinces
“The Government should… reinstate the 6% CHT escalator.”
- Budget 2015: NDP Pre-budget Consultations Supplementary Report; Choosing a
Fairer and More Prosperous Canada, December 10, 2014
http://www.parl.gc.ca/HousePublications/Publication.aspx?DocId=6830258&Language=
E&Mode=1&Parl=41&Ses=2&File=366
Costing
Under the new formula the CHT will escalate by 3% rather than 6% as the NDP has
promised

8/30

Fiscal
Year

CHT under current
3% escalator

CHT under NDP 6%
escalator

Difference

2016-17

$36,087,784,800

$36,087,784,800

2017-18

37,170,418,344

38,253,051,888

1,082,633,544

2018-19

38,285,530,894

40,548,235,001

2,262,704,107

2019-20

39,434,096,821

42,981,129,101

3,547,032,280

2020-21

40,617,119,725

45,559,996,847

4,942,877,122

11

National Housing Strategy
“The federal government should take immediate action to address the affordable
housing crisis facing Canadian municipalities by renewing social housing agreements
and working to develop and implement a national housing strategy as proposed by Bill
C-400.”
- Budget 2015: NDP Pre-budget Consultations Supplementary Report; Choosing a
Fairer and More Prosperous Canada, December 10, 2014
http://www.parl.gc.ca/HousePublications/Publication.aspx?DocId=6830258&Language=
E&Mode=1&Parl=41&Ses=2&File=366
Costing
Canada Mortgage and Houing Corporation
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2013/2013-02-27-1230.cfm
- The proposed Bill C-400 would cost Canadians over $5.5 billion per year in rental
subsidies alone.

8/30

12

Double Gas Tax Transfer to Municipalities
“Canada’s NDP Government will ensure that our roads, bridges and other core
infrastructure get attention, starting with an additional cent of the existing gas tax to get
people moving. This will ramp up to an additional $1.5 billion dollar annual investment
by the end of the NDP’s first mandate to help stabilize long-term funding for
infrastructure.”
- “Tom Mulcair’s plan to build stronger cities and communities,” June 6, 2015
http://www.ndp.ca/news/tom-mulcairs-plan-to-build-stronger-cities-and-communities
“Take action to address Canada’s growing productivity gap with the United States by
investing in modern infrastructure by doubling the gas tax transfer to municipalities from
$0.01 to $0.02.”
- Budget 2014: NDP Pre-budget Consultation Supplementary Report, Building a fairer,
greener, more prosperous Canada for all, FINA, December 17, 2013
http://www.parl.gc.ca/HousePublications/Publication.aspx?DocId=6380037&Language=
E&Mode=1&Parl=41&Ses=2&File=342
“We will dedicate one additional cent from the gas tax to public transit in municipalities
right away.”
- "Taking the next step on public transit", Thomas Mulcair policy brief, leadership 2012
Costing
The NDP has been clear they will increase funding every year, reaching an additional
annual investment of 1.5 billion by the end of their first term.
http://www.ndp.ca/news/tom-mulcairs-plan-to-build-stronger-cities-and-communities

8/30

13

Transit Plan
“Tom Mulcair’s Better Transit Plan will be developed in partnership with provinces and
territories to tackle gridlock in our cities to help get Canadians to-and-from work or
school more quickly and help the environment. Canada’s NDP government will invest
$1.3 billion annually over the next 20 years to ensure predictable, stable and
transparent public transit funding for municipalities.”
- “Tom Mulcair’s plan to build stronger cities and communities,” June 6, 2015
http://www.ndp.ca/news/tom-mulcairs-plan-to-build-stronger-cities-and-communities
Costing
The NDP plan says it will invest $1.3 billion annually.
http://www.ndp.ca/news/tom-mulcairs-plan-to-build-stronger-cities-and-communities

8/30

14

Foreign Aid
“Recommit Canada to spend 0.7% of its GDP on development assistance by 2022”
- "Taking the Next Step on the World Stage," Thomas Mulcair Policy Backgrounder,
2012 leadership
“We will set a multi-year timetable to increase our Official Development Assistance
budget to 0.7%”
- Speech by Tom Mulcair at the Canadian Council for International Cooperation, May
12, 2015 http://www.ndp.ca/news/speech-tom-mulcair-canadian-council-internationalcooperation
Costing
The 2011 NDP Platform has a first year target of increasing development assistance by
$250 million.
Canada is spending $4.97 billion on Development Assistance now. At current GDP
(GDP and GNI are nearly equal for Canada) 0.7 percent is $13.95 Billion. The
difference in $9 billion.
http://international.gc.ca/development-developpement/dev-results-resultats/reportsrapports/sria-rsai-2013-14.aspx?lang=eng

8/30

15

Destination Canada
NDP Promise and Costing
“NDP Leader Tom Mulcair's Campaign for Change was in Niagara Falls today,
where Mulcair announced his plan to promote tourism in Canada.
“An NDP government will attract more visitors from the United States with a $30
million investment, over the next three fiscal-years, in Destination Canada, for
its Connecting America campaign. This will support small business owners, as
well as create jobs and economic opportunities for our tourism, hospitality and
related sectors.”
- http://www.ndp.ca/news/mulcair-announces-plan-to-boost-canadian-tourism

8/30

16

Disaster Preparedness
NDP Promise and Costing
“Specifically, the NDP will restore funding for the Joint Emergency Preparedness
Program and for training programs previously provided by the Emergency
Preparedness College. The NDP will also sit down with the provinces to
strengthen the Disaster Financial Assistance Agreements to respond as
disasters become more frequent.”
- “http://www.ndp.ca/news/mulcair-announces-federal-action-wildfires-and-floodsafety
“The NDP says they will spend $9 million a year on this promise:
“NDP Leader Tom Mulcair promised Tuesday to inject a "modest" $9 million into natural
disaster prevention and relief as Western Canada reels from one of its worst wildfire
seasons on record.
“Mulcair campaigned Tuesday in British Columbia, where days ago a raging blaze tore
through the province's Interior, destroying dozens of homes and forcing hundreds to flee
at a moment's notice.
“During a stop on the island earlier in the day, Mulcair committed to restoring $7 million
in annual funding to a Joint Emergency Preparedness Program to bolster training and
equipment against natural disasters.
“"An NDP government will assist provinces to keep Canadians safe from fires and
floods as the effects of climate change worsen," said Mulcair.
“He made the announcement outside a regional park on Vancouver Island, flanked by a
troop of local NDP candidates and members of the Nanaimo Fire Department.
“A New Democrat government would sit down with the provinces and territories to
discuss strengthening how financial assistance is provided in disaster situations, he
said. An additional $2 million would be earmarked for disaster training programs, which
he says were cut under the Harper administration.”
(CBC.ca, August 18, 2015, http://www.cbc.ca/m/touch/news/story/1.3194922)

8/30

17

Police Funding
NDP Promise and Costing
“To help police protect our communities, an NDP government will work with
provinces, territories, municipalities and First Nations to provide stable, ongoing
funding to put 2,500 new officers on the streets and keep them there. To
achieve this goal, the NDP will re-establish the Police Officer Recruitment Fund
that was cancelled by Stephen Harper, with a $250 million investment over the
next four fiscal-years, followed by permanent ongoing funding of $100 million
annually.”
-

8/30

http://www.ndp.ca/news/mulcair-announces-plan-more-front-line-policeofficers

18

Increase Corporate Tax Rates (June 17, 2015)
NDP Promise
“Mulcair has clearly indicated his plans to raise the corporate tax rate.
The NDP would pay for future spending commitments by raising corporate income taxes
back to the level they were at when the Conservatives took office in 2006, said party
leader Tom Mulcair.
““There is no talk or thought of going beyond what the Conservatives had when they
came into power, so that gives you an order of magnitude,” Mr. Mulcair said in an
interview.
“The Conservatives have steadily reduced the federal corporate rate to 15% from 22%
in 2006.
“The NDP leader mused about hiking corporate taxes during a caucus retreat in
Saskatoon, while committing that Canadian combined federal and provincial rates
(currently averaging 26%) would be “several points” lower than the combined U.S.
federal and state rate of nearly 40%.
- “NDP would raise corporate tax rate to pre-Tory level, Tom Mulcair says,” National
Post, October 9, 2013. http://news.nationalpost.com/news/canada/canadianpolitics/ndp-would-raise-corporate-tax-rate-to-pre-tory-level-tom-mulcair-says)
“…we will raise the taxes of Canada’s largest corporations to something closer to the
G7 average.”
- Tom Mulcair (The Current, June 17, 2015)
“But Mulcair earlier this month said he would impose "a slight and graduated increase"
that would still be "far below the average that the Conservatives had for the 10 years
that they've been in power."
- Mulcair scales back magnitude of NDP’s promised corporate tax hike, Canadian Press
http://www.cbc.ca/news/politics/canada-election-2015-mulcair-scales-back-magnitudeof-ndp-s-promised-corporate-tax-hike-1.3201087
Costing
Parliamentary Budget Office Ready Reckoner says a 2 percentage point increase in the
Corporate tax rate (the average since 2006 is 17.5 percent) would produce $3.7 billion.
While it is likely that the NDP would phase in it’s corporate tax increase, for the
purposes of this exercise, we account for the full 2 point increase in year one.
http://www.readyreckoner.ca

8/30

19

Cancel income splitting (April 21, 2015)
“Yes, we would get rid of Stephen Harper’s unfair income splitting plan. It only benefits
the richest 15%, we would get rid of his doubling of the tax free savings accounts – that
only helps the richest people in Canadian society.”
- Thomas Mulcair, CPAC, April 21, 2015
Costing
Budget 2015 puts the cost of the family tax cut in the 2016/17 at $1.995 Billion.
http://www.budget.gc.ca/2015/docs/plan/ch4-1-eng.html#_Toc417204257

8/30

20

Cancel TFSA expansion (April 21, 2015)
“Yes, we would get rid of Stephen Harper’s unfair income splitting plan. It only benefits
the richest 15%, we would get rid of his doubling of the tax free savings accounts – that
only helps the richest people in Canadian society.”
- Thomas Mulcair, CPAC, April 21, 2015
Costing
Budget 2015 puts the cost of the TFSA increase in the 2016/17 at $160 Billion.
http://www.budget.gc.ca/2015/docs/plan/ch4-1-eng.html#_Toc417204257

8/30

21