All right, Mr. Chairman. I do not intend to launch into a discussion of money theories. I was just answering a question which the hon. gentleman put to me. But I repeat that I and my associates in the Social Credit group are definitely opposed to this measure. We stand for a drastic reduction of taxation, and we have indicated an alternative.
There is one aspect of the present situation which I think has not received the attention it should have received, namely, the positive side rather than the negative. The minister, his supporters and others have suggested that the objective of this measure is to curtail consumption. Why place so much emphasis on the curtailing of consumption? Why not look at it positively and consider whether we cannot do something more about stimulating production? That is an aspect which, according to my observation, has not received much emphasis during the course of this debate. I feel certain that one means of stimulating much production in this country is to reduce taxation. I am sure that every hon. member has heard farmers, workers and businessmen in general say that they would be glad to produce a little more but for taxation. What do we invariably hear? The farmer says, "Why should I raise my production when, as a consequence, I do nothing but pay more taxes?" The worker says the same thing, namely, "Why should I work overtime, bring my income up into the next bracket and penalize myself by so doing?" All the way through the whole economy we find that, as a result of taxation, there is a certain amount of discouragement of production.
Therefore I suggest that we place a little more emphasis on the positive side of our program and see whether we cannot do something by way of stimulating production, and thus provide ourselves with more goods with which to take care of the needs abroad and of ourselves. I think the best way to do that would be to remove those elements of our economic life which discourage production, one of which, in my opinion, is taxation. So I suggest that the policy involved in this resolution can do nothing but discourage still further the production of very much needed goods in this country. Therefore I, together with my
associates, will oppose it; and I personally think the whole thing should be consigned to the nether regions.
Topic: WAYS AND MEANS
Subtopic: EXCISE TAX ACT AMENDMENT