Yves Lessard at the Human Resources, Skills and Social Development and the Status of Persons with Disabilities Committee

On May 1st, 2008. See this statement in context.

May 1st, 2008 / 9:25 a.m.

Bloc

Yves Lessard Bloc Chambly—Borduas, QC

Thank you, Mr. Chairman.

I would like to welcome you and thank you for appearing this morning to provide us with this information.

I will follow up with Mr. Savage's line of questioning. I understand that Bill C-50 provides that when the fund does not have a sufficient reserve, for example, in the event there was a significant change to the employment rate, amounts could be advanced from the Consolidated Revenue Fund to the employment insurance account. Once the premium rate is adjusted, according to those new responsibilities, the CRF will be refunded.

Are the $2 billion that are transferred from the CRF, to establish a reserve, considered as an advance?

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