February 4, 1994 (35th Parliament, 1st Session)

LIB

Sue Barnes

Liberal

Mrs. Sue Barnes (London West)

Mr. Speaker, I would like to raise again in this House the subject of the RRSP home buyers plan in order to emphasize its importance to many in my riding and the Canadian economy as a whole.
The extension of the RRSP home buyers plan benefits will allow thousands of Canadians to withdraw existing funds of up to $20,000 from their registered retirement savings plans to finance the purchase of their principal residence without having to pay tax on the withdrawal.
The program also recognizes the importance of the housing market to economic growth. Its extension will stimulate residential real estate and job creation. The program also recognizes that a paid off principal residence is for many the cornerstone of their retirement plan.
I encourage all members of this House to support the extension of the RRSP home buyers plan which will allow additional time to re-evaluate the program and continue its important contribution to economic recovery.

Topic:   Statements By Members
Subtopic:   Home Buyers Plan
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