Thank you, Mr. Chair.
Like my colleagues, I am very happy to see you.
Mr. Duvall, welcome to the Standing Committee on Finance.
I think we have to put things in context before we vote. I sense a consensus around the table.
I know that our government is very proud of what has been accomplished in seemingly record time by our Minister of Finance and his provincial counterparts. Nine provinces out of ten signing on to a major expansion in retirement benefits is an important and meaningful step for Canadians, and one that I think has been done prudently. As all of you know, despite claims of lack of information, it will be phased in over a seven-year period beginning in approximately three years and it will represent a meaningful change in the quality of life of Canadian retirees for as far as the eye can see, so I know we'll be very proud to hear the details of this arrangement from the finance minister on September 19.
The other important thing, because I know all of us as parliamentarians take our responsibilities very seriously, will take place this autumn.
This fall, we will hear from the Minister of Finance and his officials, and probably from experts such as the Chief Actuary of Canada and the parliamentary budget officer. We will also possibly hear from other witnesses. We have already invited the representatives of the Canada Pension Plan Investment Board. We will do a very comprehensive review of this arrangement.
To answer the questions asked by my colleague Ms. Raitt, I want to point out that a bill will be drafted to implement this arrangement, and our committee will study the bill. So the Parliament of Canada will have its say. A full debate will be held on the changes the Minister of Finance will propose on September 19.
We are addressing this issue with a great deal of confidence. We are very pleased with the fact that an election promise will be kept. Once again, we will be able to tell Canadians that we are delivering on our commitments and that we will make a positive change to the quality of life of the middle class and of all Canadians.
Thank you, Mr. Chair.