Mr. Speaker, I do not know whether there is sufficient time to answer all three questions but I will try.
On the first question, it seems to me that the investments in Canada savings bonds are investments in the state, in what we believe to be the role of the government, regardless of the party that is in power. Most Canada savings bonds investments are for five years or more. Maybe in five years another party will be in power. We do not know. However the fact is that Canada savings bonds are a vehicle for investment for those who believe in the future of Canada.
I invest my savings in Canada savings bonds, for instance. I find it one way of supporting Canada. I am sure that many Canadians do the same. Therefore, I would not link Canada savings bonds with the performance of any department. There are always mistakes and shortcomings. What counts is the confidence of Canadians in their country and the bonds are one way of expressing that. Maybe it is a form of patriotism. Who knows? Nevertheless, it is a good form of patriotism. I would urge the member to do the same and invest some of his savings in Canada savings bonds one of these days.
Second, the Chilean system, as well as some other systems all over the world, may have some features which are better than ours. We should look at them. However it does not mean that we have to send a committee to Chile or bring an expert from Chile. If the committee decided not to call an expert, the majority of the committee, in this democratic process, must have felt that it was not necessary. Particularly today, with the Internet and other forms of instant communications, it should not be too difficult to reach and obtain details, even through the relevant UN organization, about the positive features of the Chilean system. We can learn from the Chileans, the Europeans and many others also.
I think we have a good system. All we need to do is have faith in it and improve it.
That leads me to the third question and the predictions of the hon. member that the sustainability of the fund in the long term is in doubt or is even questionable. I do not think so. That is the assumption made by some. His party has actually advocated the replacement of the CPP with a private sector system. I do not believe that at all and I reject that notion.
I would like to see the Canada pension plan as the main central source of pension funding and pension support for Canadians. Then those who can afford it can build their own little private schemes if they like. However the public sector has to be protected and the vast majority of Canadians cannot afford to fund their future and their retirement by way of a private sector system.
This has been the strength of the Liberal Party over decades. Part of our social security approach is that of ensuring that a minimum is provided via the public sector and the taxation system. That is why we do not believe, as the hon. member does, in the reduction of taxes because taxes are essential to do certain things, such as the enhancement and strengthening of the Canada pension plan. If the percentage of contributions to which the hon. member made reference to would require an increase in years to come, and this is a matter for actuaries to decide and well beyond my ability to comprehend, I am sure that a vast majority of Canadians would support it. I would be glad to fight an election on that. I am sure that we would win.