Evidence of meeting #81 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was investments.
A video is available from Parliament.
Conservative
Dave Van Kesteren Conservative Chatham-Kent—Essex, ON
Yes. I think we have to guard our institutions, and CPP is one of those cherished programs; it may be the most cherished.
Vice-President, Advocacy, Canadian Association of Retired Persons
There is a concern, of course, as to what has happened with the stock market. It affected them personally. They didn't need to look at the CPP to see how well it was or was not doing.
In the 2008-2009 crash for everybody, CPP also sustained quite a significant loss. Most people individually are not that aware of what's happening with this large fund of money that they don't personally have any involvement in, but in many cases, they did see their own savings practically disappear during the 2008-2009 crash. It makes them much more anxious—a lot more anxious than previous generations of retirees.
Most of the previous generations had workplace pensions. Their OAS and GIS were adequate. Now they're having difficulty making ends meet. Their savings have been devastated, and they watch and worry about their children, who are not saving enough. It does start to inform our advocacy to look for better ways to help all Canadians save for their own retirement.
Conservative
Dave Van Kesteren Conservative Chatham-Kent—Essex, ON
Thank you.
I suppose that's a good answer. I just wanted to make sure that you do make your seniors aware—
Conservative
Dave Van Kesteren Conservative Chatham-Kent—Essex, ON
—as we do too, when we talk about the fact that we have fewer workers, and that's going to shrink further. We all want these excellent things for seniors, but we have to make sure that we can afford these things.
Vice-President, Advocacy, Canadian Association of Retired Persons
Absolutely, but I shouldn't lose the opportunity to thank the government for those changes that have been brought forward, many of which we have both asked for and supported, of course. Actually, that's why we're optimistic when we're asking for these improvements.
Conservative
NDP
Hoang Mai NDP Brossard—La Prairie, QC
Thank you, Mr. Chair.
Mr. Allen, on the same thing as Peggy Nash, I come from Montreal—actually, the region of Montreal where the Champlain Bridge is—and we are seeing a crumbling infrastructure. In the budget, the Champlain Bridge is mentioned, but unfortunately there are zero dollars put in. How important is it, from your perspective, to invest in infrastructure, especially right now, since we know there's an infrastructure deficit and we can actually create jobs? Does that really help to promote trade jobs here in Canada?
Chief Executive Officer, Engineers Canada
Yes, absolutely. The investment in infrastructure is the first step. You create the first round of jobs by actually going through redesigning, rebuilding, and putting the bridges and the infrastructure in place. The second round of creation is that it allows the flow of goods and services across all that infrastructure, which is essential to long-term sustainability. You end up with a good construction project, but then you end up with a much more robust system that can allow the economy to grow.
NDP
Hoang Mai NDP Brossard—La Prairie, QC
My father is an engineer and studied in Canada, but I understand from a lot of constituents that they're having problems with international degrees from overseas. They're coming here and having problems with licensing. Actually, we hear a lot of stories, which are true, that they are driving cabs. What more can the government do on that front? Has the government done enough so far?
Chief Executive Officer, Engineers Canada
One thing I mentioned in my remarks is the concept of “licence-ready”. I was formerly the CEO and registrar of Professional Engineers Ontario and dealt very much at the front end with the licensing of the internationally trained. It's about how we get people whose credentials are recognized and have them with a licence in hand when they arrive in the country.
What happens through some of those changes is that people come to Canada and then wait a long time to actually apply for a licence. I certainly know the stats in Ontario. Over 70% of the international graduates who apply end up having their credentials recognized without doing anything further to put in place with that.
Part of it is that people don't apply and come in with it. Education systems are different around the world. If in their home country people can make up the gaps between what their education system was and what we need, it's much, much easier than waiting until they come here to do things.
NDP
Hoang Mai NDP Brossard—La Prairie, QC
Mr. Hayos, we also believe in balanced budgets, but one way of doing it is by closing the loopholes regarding tax havens and tax evasion. We had the CGA come here and say that the government hasn't done anything regarding closing those loopholes. Are your members in favour of taxing tax havens?
Vice-President, Taxation, Canadian Institute of Chartered Accountants
Well, I think there's a bit of a misnomer in terms of tax havens. I think the first thing you have to recognize about tax rates, as we've talked about—and that's why we talk about keeping our rates low—is that it's all an issue of competitiveness. I think what we're opposed to is people setting up what we call “name plates” in a place where they don't really conduct business. We're absolutely opposed to that practice. What we're not opposed to is real competition, whereby tax is just one of the competitive bases on which countries such as Canada attract business.
NDP
Hoang Mai NDP Brossard—La Prairie, QC
Ms. Eng, you mentioned close to 500,000 seniors living in poverty. When would that be, going through your calculations, and why are we going to get there?
Vice-President, Advocacy, Canadian Association of Retired Persons
Well, we're using the straight calculation of approximately 6.7% of Canadians today living in poverty, out of the number of 4.9 million seniors at the last census, so that brings us to about 300,000 people today. Those are the people under the official poverty line, not those who are near poverty.
If we do nothing and the senior population increases, as projected, to 6.7 million by 2023, and the rate of poverty stays the same, that's how we get to the 500,000.
NDP
Hoang Mai NDP Brossard—La Prairie, QC
That is an alarming number.
I don't have much time, Mr. Blake. You mentioned a study that says every dollar invested in CBC brings $3 to the economy. Is it possible to get that report?
National Councillor, Actor, Alliance of Canadian Cinema, Television and Radio Artists
Yes, we'll get that to you.
Conservative
The Chair Conservative James Rajotte
Okay.
Thank you, Mr. Mai.
We'll go to Mr. Calandra, please, for a five-minute round.
October 23rd, 2012 / 4:50 p.m.
Conservative
Paul Calandra Conservative Oak Ridges—Markham, ON
Thank you, Mr. Chair.
I haven't been here to listen to all the testimony today, but I appreciate your giving me the opportunity to ask a few questions.
Ms. Eng, I'll start with you.
Of course, you probably remember the last time we were together. It was at an announcement in my riding. I think it was at the Yee Hong Centre. It was a positive announcement. I was bit thrown. You were campaigning for the Liberal candidate in the riding at that time. It was days before the election, and there was, of course, a great deal of Liberal campaign literature strewn throughout the event at the same time that a minister was there announcing some great news for seniors.
I was a little worried at that point, in the sense that the organization you lead now had become so political in nature. As opposed to advocating on behalf of seniors, you were advocating on behalf of a political party or your ideology. Looking at some of the things on your website, I find some of that same type of attitude. I know at that time you were there with Moses Znaimer, who's the head of Zoomer Radio in Toronto, AM740.
When you look through Canada's economic action plan for the last few years, are you able to take off your partisan hat and put on a hat to advocate on behalf of not only today's seniors, but those of us who, in the future, will become seniors?
I look at something like the old age security. You have a poll on your website that asks people if they would vote for a party that cut Old Age Security. Now, I'm not a—
Conservative
The Chair Conservative James Rajotte
I'm sorry, Mr. Calandra; we have a point of order.
Go ahead, Ms. Nash.
NDP
Peggy Nash NDP Parkdale—High Park, ON
I'm very sorry to interrupt you, but I believe I just heard the member accuse one of the witnesses of partisanship. I want to make the point that CARP is a non-partisan organization. I wonder if the member might wish to clarify his comments.
Conservative
Conservative
Paul Calandra Conservative Oak Ridges—Markham, ON
Absolutely, Mr. Chair.
As I said in my opening, I was at an event where the organization was campaigning on behalf of the Liberal candidate and on behalf of the Liberal Party. Just a few days before the event, the Liberal opposition had decided to bring down the government. That's the context.