I am aware of that, and that's where I was heading. In fact, you practically anticipated the next sentence that I was going to say, which is that the office of the chief actuary already publishes reports on public pension plans and can value the impact of tabled bills and amendments affecting public pension plans, which is the kind of transparency that Parliament should require and is exactly the information that the minister should be paying attention to.
That's where the amendment and the subamendment are heading, because what we would like to do with this amendment and subamendment is force the government to show its work, not simply in an actuarial report that may be tabled, but in a ministerial report that is tabled in the House and that can be debated by parliamentarians in the exercise of our discussion of these issues in the best interests of Canadians.
Basically, what the amendment then says is that shortly after this change takes effect, the Minister of Finance has to prepare a report explaining what these CPP amendments do to the financial state of the CPP and to contribution rates. Then the report has to be tabled in both the House of Commons and the Senate within a set timeline. I think it's 15 days. That way, Parliament wouldn't just pass a rate cut and move on. What would happen is the minister would have to come back to the House with a formal public account of the impact that we could then debate in the House of Commons and that Canadians would become aware of.
What the subamendment does is add more detail to what the report has to include. It requires the minister to include projections of CPP assets done two ways. The first part would be in nominal dollars, which means the raw dollar amount for future years. The second part would be in inflation-adjusted dollars, which is what those dollars are really worth after taking inflation into account. This matters, because a big future number can sound reassuring, but inflation can make it less meaningful.
That's something Canadians of all walks of life are seeing right now in our communities. It's something that we see every time we go to the grocery store. These numbers are big, and inflation is impacting our bottom line. We know that in most cases, inflation is going up faster than our wages, and that is something we are concerned about.
What this does—