Mr. Speaker, I was saying that as Canada's population ages, women will be making an even greater contribution to the economy and society, so they should also benefit fully from the resulting economic prosperity.
The trend toward increased labour force participation among women, including older women, will fuel economic growth and productivity gains in the long term, thus benefiting all Canadians.
Almost every country in the world is looking at the major trends involving women and the labour force. They are actively implementing key policies for growth and economic prosperity that take into account women's essential contributions.
This phenomenon is sweeping the world. Many countries have recognized that their well-being and future financial viability will depend on women's increasing participation in the workforce over the next four decades. For example, between 2003 and 2050, the employment rate for women is expected to rise, on average, by 10% in the European Union and by more than 15% in Spain, Malta and Poland.
It is not surprising that Canada's financial institutions recently looked at the relationship between women's participation in the labour force and economic growth. The Toronto Dominion Bank recently published a report on a number of related issues, and the Royal Bank of Canada noted that “—if women had identical labour market opportunities available to them as men, then personal incomes would be $168 billion higher each year”.
It is in the public interest to take advantage of the talent that surrounds us. Our future prosperity as a country is directly connected to the prosperity of women and their families.