Good afternoon everyone. Thank you for being here.
I would like to put things in context. I have not been a member of Parliament for long. I arrived in the House of Commons last November. I am also a businessman. Over the past 20 years, I have created jobs in my region. I worked very hard to create those jobs and to keep them. As a businessman and company owner, I do not have the means to set up a retirement plan, and neither do my employees. I would like to put that in context because it will be important when I ask my questions.
I really feel deeply for what has happened to you. I feel that Canadian society has progressed a lot over the past 40 years, having instituted programs like Old Age Security for seniors. Generally speaking, that was well done.
As a businessman, I have never created jobs with a view to one day closing my businesses and kicking my employees out on the street. Business people and company board members have a social conscience. I sincerely believe that they are acting in good faith when they create jobs and are hoping to build their business.
Unfortunately, for all sorts of reasons, some businesses run into trouble. There is a law to protect businesses like that. It is called the Bankruptcy and Insolvency Act. Its purpose is to keep losses to a minimum when businesses go under. Everyone understands that. Recently, the law has had a positive impact in Quebec where some companies would have faced certain bankruptcy had it not been for that law. But the law is in effect, and it helps companies to bounce back, to get back on their feet, and to contribute to retirement funds once again.
What is happening to you is absolutely deplorable. My question is for those retirees here who have been affected by the loss of an income. A little earlier, Mr. Fréchette, you said something important. You said that, instead of promising you things that we were not able to give you, we should have promised you something that we were able to give you. That resonated with me. Businesses can try and adopt certain measures, but they still have to live up to their commitments. This is a commitment shared between the employer and the employee.
Contrary to what one of my colleagues said earlier, I do not think that businesses seek protection under the Bankruptcy and Insolvency Act in order to avoid paying retirees or pension funds. When you create something, you do not do so in order to destroy it. You create it in order to build it. That is how I see things.
So I come back to what you said earlier, Mr. Fréchette. What advice would you give us to stop this happening again?