Thank you, Mr. Chair.
And thank you to all our witnesses.
I think it was particularly good to start with the CGA and the rather dire, if not crisis, conditions you outlined facing Canadian pensions, which is in contrast to what I would characterize as the government attitude of “don't worry, be happy, everything's just fine”. In particular, I think this never-ending consultation, when proposals for things like a supplementary Canada Pension Plan have been on the table for many, many months, if not years....
Also, I'd like to refer to the Bankruptcy and Insolvency Act. A number of you mentioned that. The government had a proposal to make amendments to it in the throne speech, but nothing was in the budget. It seemed to say we don't want to act in that area. Mr. Menzies will have a chance to correct me if I'm wrong, but certainly there was nothing in the budget.
We, in the Liberal Party, do believe that the BIA, the Bankruptcy and Insolvency Act, should be amended to provide some additional protection in the hierarchy for pensioners. As a number of you said, this is a question of deferred compensation. Three of you have already been on the record as favouring that, and one as opposing.
To Mr. Charbonneau, with respect to the act, do you have a view as to whether, and if so how, the BIA might be amended to provide some additional security for pensioners?