Mr. Speaker, yesterday at the finance committee we had both big labour and big business. It was an interesting conversation with respect to Bill C-50, the budget implementation bill, and the EI issue around setting up a separate EI fund. They pointed out that this particular provision in the budget left something to be desired.
If we want to set up an EI fund distinct and separate from the government, we need to put in about $15 billion. The reason we need to put in about $15 billion is because when unemployment times are bad we want to be able to reduce premiums and when employment times are good we want to actually increase premiums. There is this sort of counter-cyclical effect. We would not, in effect, be taxing businesses when they are strained in economic times.
I wonder whether the parliamentary secretary would be interested in amending the budget provision bill so that instead of setting aside a mere $2 billion, which would do absolutely nothing, the government would put aside $15 billion so the EI fund would act in a counter-cyclical manner and would cushion the bad times and help in the good times. It actually was a recommendation that was made by actuaries in Canada.