Mr. Speaker, I thank the member for his comments on the employment insurance situation, which he has been a champion of in this place for many years.
I believe the new employment insurance agency called for seed money of some $2 billion. I understand, though, those funds will not be available for the payment of benefits. They are basically the administration capitalization.
With our current situation, the record levels of unemployment, the benefits being paid out now vastly exceed the premiums being collected. Therefore, in recent months we have been operating at a deficit. The separate fund has been operating at a deficit because it is supposed to be stand-alone.
I spoke with the Auditor General and she assured me that at the end of the next fiscal year, if it continues to be in deficit, that would be included in the consolidated recent fund and the government would have to transfer moneys out of the treasury into the separate fund to cover the funding of benefits.
Is the member aware of that?