The situation is already disastrous for the entire manufacturing sector, because the dollar has been on the rise for five or six years. Its value has increased some 40% over the American dollar. Many job losses have already occurred in certain sectors.
However, there are some areas that we have yet to touch on. We represent people in the tourism industry. The value of the Canadian dollar has clearly been increasing against the US dollar for a number of years. Now that the Canadian dollar is stronger than the US dollar, we are very worried about the negative impact this may have on this industry a year or two from now. That is why action must be taken right away, namely through monetary policy. We also need to bring in support measures for workers who lose their jobs, through the employment insurance system and income programs for older workers. This is absolutely essential. At the same time, by doing this, we can take advantage of the current situation to encourage investment in businesses, because the dollar will remain high for some time. So then, the government needs a comprehensive short-, medium- and long-term strategy.