Mr. Speaker, I rise today on behalf of many of the constituents who have come into my office over many months, who are concerned about their future and their security.
Many of these Brampton residents and other Canadian families have been affected by the closure and the bankruptcy of Nortel. Their future is at stake with regard to both their long-term disability benefits and their pensions.
I have before me petitions signed by thousands of Canadians requesting that the government act immediately to amend the Companies' Creditors Arrangement Act and the Bankruptcy and Insolvency Act to ensure that the rights of all Canadian employees are protected and also to ensure that employees who are either laid off or working at companies that go bankrupt continue to receive their pension or long-term disability benefits and obtain preferred-creditor status over other unsecured creditors, something that has certainly not been the case for Nortel employees.
Second, the petitioners are also requesting an amendment of the Investment Canada Act to ensure that employee-related claims are paid from the proceeds of Canadian asset sales before funds are permitted to leave the country.
Many of these constituents and thousands of other Canadians gathered today on Parliament Hill to voice their concerns and the urgency for immediate action to ensure that their future can be secure and that their pensions are protected.