Mr. Speaker, I appreciate the always thoughtful questions from that very diligent member.
Let me say with respect to CPP premiums that, like any economist would understand, we believe that the CPP premium is a tax. It is a disincentive. It reduces wealth in the economy and the ability of people in this economy to produce wealth. As such, it is a burden.
Having said that, obviously there are enormous actuarial problems with the government monopoly generational transfer scheme, which is the current model of the CPP. We would like to reform the plan so that younger workers could allocate a small portion of their mandatory pension savings toward private investments that would generate over a lifetime a higher yield and a larger pension at a lower cost. I think we ought to learn the lesson of other jurisdictions in that respect.
In terms of regional development, I thank the member for the opportunity to restate my party's policy. It is one of strong and consistent opposition to all forms of corporate welfare and taxpayer handouts through what we have learned is an increasingly corrupt political apparatus to favoured corporations, be it through western economic diversification, FORD-Q, ACOA or any of the other alphabet soup of corporate welfare programs.
I note today that the Minister of Industry was handing out another $60 million in technology partnerships Canada funds to a Liberal party fundraiser, who also happens to be a billionaire, Terry Matthews. If Mr. Matthews could make a business case that this so-called government investment could generate a reliable profit, then there would be private sector creditors lined up outside his door to provide the credit he needs.
Why does he need to dip preferentially into the taxpayers' pockets? Why does he go to the front of the line? It is because he raises money for the government in power. This corporate welfare game is one of the terrible aspects of the politics of corruption in this country.
A message was delivered by the Usher of the Black Rod as follows:
Mr. Speaker, the Honourable Governor General desires the immediate attendance of this honourable House in the chamber of the honourable the Senate.
Accordingly, the Speaker with the House went up to the Senate chamber.
And being returned: