First, perhaps the economic crisis and its impact on the budget could be used as a pretext not to adopt this bill, but it would really be ignoring the structural effect of this bill on the economy.
With regard to your question, there are three important elements that need to be highlighted. Since 1990, the government has not invested a cent in the program. Unlike what people would have us believe, it is not, in our opinion, funding the deficits.
The law stipulates that the government lends money with interest to the EI fund and that this loan be repaid when there is a surplus. However, the system is important in order to support the economy and it becomes even more so during times of crises.
Yes, nearly $60 billion were misappropriated from the employment insurance fund surpluses, when it's the employers and workers who paid into the EI fund. This goes beyond comprehension.
What also goes beyond our comprehension is the lack of vision and perspective with regard to developing the labour force, which is currently the most hard hit. We see older workers, people losing their jobs in industry and people who do not have access to EI benefits experiencing hardship or reaching significant crossroads in their careers.
I have witnessed some dramatic situations. People are losing their jobs. My friends at Aciers Sorel have lost their jobs. Furthermore, the pension fund is in a deficit position. Insolvency has meant that these people have seen their pensions cut in half. I have seen people at Aleris, in Shawinigan, in metallurgy, experiencing the same thing. The same thing is happening with AbitibiBowater's restructuring.
We are at a crossroads. People do not realize that these individuals really need a bridge to ensure they can have a decent income and try to find a new job. Soon, the opposite will occur. There will be a labour force shortage. Unlike now, we will be looking for people to work in our company.