Thank you for your question. The workers will have to pay between $500 and $800 more in premiums in the coming years. The government is currently facing an odd situation. There are two acts which are not compatible. When the government created the board, its first obligation was to establish a premium rate that would make it possible to achieve a balance every year—thus no surpluses, no deficits.
When the board established the premium rate, it also had to take into account the monetary advances that the government had made and the establishment of the $2 billion reserve. The equilibrium rate calculated by the actuary amounts to only $2.43 for 2010. The budget officer says $3.06. The rate is currently $1.73.
The act provides that we cannot increase the rate by more than 15¢. Do you have an idea of the time it will take workers to repay that deficit? It’s not an $11 billion deficit. We’re talking about a deficit of $17 billion or $18 billion. At 15¢ a shot, that will take eight to 12 years to repay it. What’s more is that, when the government achieves surpluses, the board’s obligation is not to pay money into the consolidated revenue fund, but to lower the premium rate. So workers are stuck. The FTQ explained that there was $57.2 billion that belonged to employers and workers. The deficit should be met out of the surplus.
It’s time for us one day to actually talk about the employment insurance program. We only talk about the rate, about the cost. Does the employment insurance program actually meet its definition? The answer is no. We can never agree on the nature of the program. We’re only told about costs and theft.