Mr. Speaker, I congratulate the member on her comments. She shows good knowledge of the bill and its intent. The support of her party is very much appreciated. It is the right thing to do for all Canadians.
She referred to investment. The member will know that an important element of Bill C-2 is that it creates what is called the Canada pension plan investment board. Under the current plan the two years of funding held in reserve has been invested in provincial bonds and earning nominal rates.
Investment under the CPP investment board will be made in a broader balanced investment portfolio, managed by investment professionals who are fully accountable. The member will also know that the auditor general will continue to be the auditor of the Canada pension plan. We will have full access to that.
I am pleased the member raised the issue. It is an important element to the extent the investment portfolio earns the best possible return without being disruptive in the marketplace. It means that overall rates which have to be charged as premiums will be cast at their lowest possible amount.
My question for the member concerns the investment activity of the Caisse de dépôt. There is no question that the Caisse de dépôt has been a very successful investment fund and has invested in a number of regional economic and job creating initiatives.
Is the member suggesting, just to make it absolutely clear, that the five year funding of the Canada pension plan investment fund should somehow be used for other purposes such as regional economic development, which is what the NDP has been proposing, or is she suggesting that in Quebec, in concert with other things, there is a better place to do regional economic development rather than with the public pension fund?