Evidence of meeting #61 for Finance in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was pensions.
A video is available from Parliament.
Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry
It would be conjecture on my part.
I think a consideration for the committee is, on the one hand, a mandatory requirement from creditors to ensure they still get paid. The pressure that comes from that is one kind of intended outcome of the bill. The other is that the company never actually gets to that, because a consideration is that lenders decide to call their loans early and decide to plunge the company into insolvency before there's actually a chance to be able to make up that gap.
Liberal
The Chair Liberal Peter Fonseca
Thank you, Mr. Ste-Marie.
Now we'll hear from our final questioner, MP Blaikie, for two-plus minutes.
NDP
Daniel Blaikie NDP Elmwood—Transcona, MB
Thank you, Mr. Chair.
I'd just like to move that at our next meeting, we take an hour with witnesses and then begin clause-by-clause in the second hour of the meeting.
The reason for that is that we've heard some who would like to hear more on this. We've also heard that this issue has been well studied by Parliament, over a number of Parliaments now. I'm offering what I hope is a compromise that allows us to hear a few more voices on the bill, but also allows us to proceed quickly with the passage of the bill.
If there's no further debate, I'd be happy to proceed to a vote on that.
Liberal
Sophie Chatel Liberal Pontiac, QC
If we have two minutes, may I...? I didn't have a chance to speak about this issue.
NDP
Daniel Blaikie NDP Elmwood—Transcona, MB
Can we have a quick vote and then Mrs. Chatel can have the remaining time on the issue?
Liberal
Sophie Chatel Liberal Pontiac, QC
Thank you.
I just wanted to say that the situation that some pensioners are finding themselves in, having worked all their lives, is unacceptable. We need to do something.
You know my background. For me, it's important that when we put something forward, it's good. You said the law is not perfect. Well, why don't we make it perfect? I really want this committee to have the ambition to make it perfect. If it takes a little bit more time, I'm willing to take it.
I want officials to help. There are issues such as connection and what Gabriel Ste-Marie said earlier about how we need to harmonize some of this legislation with new legislation. I'm just concerned that we could, by accident, create a flaw in the legislation.
Liberal
The Chair Liberal Peter Fonseca
MP Chatel and MP Blaikie, I've been told we do have to adjourn right now. It's been agreed by all the whips to adjourn this meeting.
Conservative
