Mr. Speaker, I thank the hon. member for his question. First of all, I thought it was important to give some background, since this episode goes back to the early 1980s, and to deal more particularly with Mr. Parizeau's position, which still seems strikingly relevant today.
As a matter of fact, I think that the investment board will be a powerful instrument for the development of the regions in Canada, just as the caisse has been for the regions in Quebec. We should not forget that, obviously, the caisse's mandate is to make sure the savings of Quebec's workers are well managed and to maximize returns.
But it is also concerned with economic development, and it wants to make sure that projects that are structuring, innovative, and generate jobs but need a little financial help see the light of day. Mr. Parizeau was talking about risk capital, a concept that was not very common back in 1982.
This was the case for Quebec. It is still the case now. Certainly, variations in the stock market affect both the return of the caisse and the return of mutual funds in general. It manages well despite all, in the medium and long term, relatively better than these funds. However, we must remember one thing, and this should be a lesson for this board that is being put in place; the management of the caisse is independent of political authorities.
Of course, it is an institution that is part of Quebec's development, that has responsibilities toward the development of the Quebec economy, and this is quite understandable. It would be pointless for the caisse to get huge returns while impoverishing workers who are also contributing. This difficult balance is the responsibility of the caisse's managers.
I will add one last thing. Partners from the labour market also sit on the board of the caisse. This is also a lesson for the investment board. There are representatives of the Confédération des syndicats nationaux, the Fédération des travailleurs et des travailleuses du Québec, and of the Conseil du patronat. All these members of the board reflect Quebec's realities and are thus looking for a balance between the return on the savings put into the caisse and the return on investments made by the Caisse itself.