Madam Speaker, I would point out to my distinguished colleague that the answer lies within his question. I believe the hon. member has all the information.
When there is a bankruptcy and one of the creditors cannot be repaid by a credit union or a bank, some funds are secured. So, for them, it does exist. As a former administrator of financial institutions, I know that mechanism is there. So, they cannot lose. Will that add to their burden? No, since the government will take the initiative to make the payment in respect of wages and to recover it itself.
The other aspect of his question underscores the following: is there a problem, for instance, with hesitating or arranging to avoid supporting benefits from the employment insurance fund ? Are we talking strictly about premiums to be paid to pension funds in this case? If we were to reason as the member suggests, we would be agreeing that employers would use assets in the pension fund to ensure the survival of their business. Well, I would surmise that such was not the intent of the House. Moreover, that is not how I understand the bill, unless my interpretation is wrong.
Thus, regarding the two scenarios, I think the answer lies within the question. The danger that is feared in this regard does not exist because of the two reasons I have mentioned. The first is that the bank has a security in case of bankruptcy or bad debt. As to the Government of Canada, it is able to place itself among the high-ranked creditors in relation to wages.