Thank you, Chair.
It's nice to be here today in person rather than trying to make my way through an airport while the committee is in session.
Also, thank you, minister, for being here today.
I'd like to talk a bit about health care, which is really important. Obviously, sick time is important, but we really haven't talked about the cost to businesses to have this program in place. I'd like to make one comment about what I've heard here today. I don't think any of the benefits should be retroactive.
From a business point of view, if the benefits are going to start, they should start only going forward. I also don't think we should pay out benefits until they have been earned, because if we start paying out benefits before they've actually accumulated, it's going to be very costly from a bookkeeping point of view. If employees leave before they've earned the time, it just creates all kinds of problems. I think you have to earn it before you use it, and you can't use it retroactively.
In terms of what businesses are facing today, they're facing enormous challenges. We're talking about inflation now. That seems to be the big thing in the House of Commons. We know that's going to have an effect this year on wages for employees. They'll have to go up. Raw materials are going up in cost. Taxes are going up. Carbon taxes and environmental costs are all going up. There are regulations. Bank loans are going to be more expensive with interest rates.
Now we're asking businesses, and we've said that up to 58% of company employees don't have these benefits. These benefits are going to have to be a new cost. Have you thought about what the total costs will be, and how businesses will be able to afford this in order to continue to provide their services?