Thanks for the question.
I think you cited some numbers that are very true. These have been a very tough couple of years for the industry. You're very well aware of your riding, as are a number of other members around this table whose ridings have been directly impacted by what's happened to this industry, and of course our industry is not unique in the general economy more broadly.
I would remind the committee, though, that we continue to employ 230,000 Canadians. This is a viable industry, and we are retooling. We need to invest in our industry to go forward and take advantage of the new markets that are opening up, the new opportunities in the bioeconomy, in biotechnology, in bioenergy. That's going to require money.
Mr. Rafferty, you would know full well from your riding that the equipment in those mills is very expensive. A paper machine costs $1 billion to build. That requires capital. If we're going to be there--and we do want to be there--I think the most important thing is to ensure, in all of these ridings, that we have healthy companies that continue to employ the employees who are there and that we will continue to fund it.
I think your bill does raise some very important questions about the pension system, for sure. I think the reality is that your bill raises those issues, and as Mr. Harden's testimony says, this is a very complex issue. It would involve provincial jurisdictions and pensions, and it also obviously involves the Bankruptcy and Insolvency Act.
I think we need to take a very comprehensive look at this situation to ensure that we know what the consequences of this bill will be.