Mr. Speaker, my question is for the Minister of Human Resources Development. The minister has assured this House that the Canada pension plan is in good shape with a healthy surplus.
However, almost all the surplus, 93 per cent of it, is loaned out to provinces at bargain basement interest rates. For example, it has just been reported that a Saskatchewan crown corporation, SaskTel, owes $100 million of its huge $600 million debt to the Canada pension plan at below market rates.
How could cheap loans to debt ridden governments and crown corporations be in the best interests of CPP contributors and beneficiaries?