Mr. Speaker, in order to help the minister asses the response, I might want to bring the following facts to his attention.
The CPPIB lost $24 billion. The members gave themselves multi-million dollar bonuses because they said it was based on a four-year rolling average, but they did not even beat inflation over those four years. In fact, the United Church pension board, a multi-billion dollar pension, an all-volunteer board, outperformed them to 2:1.
If it had invested exclusively in government bonds, it would have made $13 billion more over the past 10 years.
I hope that helps him. How much does the CPPIB have to lose before he finally says “no”?