Exactly, because that is the purpose of the EI fund.
The other point we are making is that the government has other tools to support economic development. In that respect, labour-sponsored funds come to mind. The last or second-last budget called for the corresponding tax credit to gradually disappear over three years. And in Quebec, Fondaction has $1.25 billion in assets, and Fonds de Solidarité holds $10 billion in assets.
Studies show that, for a given year, the tax credits available to those who purchase shares in labour-sponsored funds generate greater tax revenue for both levels of government, federal and provincial.
In other words, the government did not make a wise choice, in terms of either economic development or government revenues.