Mr. Speaker, first I will deal with the CPP. That plan is flawed. It was first introduced in 1966. Two years later the people who built the plan said that it would not work. From there on, governments ignored that advice and continued to build up the debt and the liability on that plan.
How do we fix that plan? We would have to charge, as most actuaries say, somewhere around 15% to fix it. If we start charging 15%, obviously young workers will be on the picket lines. What can we do about it?
I did an interesting project. I went to Santiago, Chile, which has had a program for 26 years. I went door to door. I went to the poor communities. I went to the middle class communities. I went to the wealthy communities. I asked them to tell me about their plan. They came out their doors with a card showing the pension plan they invested in, plan A, plan B, and plan C. It is government run. It is compulsory. It is 10%. It is there. They can watch it. They buy their groceries at the stores in which they have shares. They buy their cars from companies in which they have shares. They are proud of it. It is sustainable. The money is there in the country to invest. They do not have any foreign debt because of it.