Mr. Speaker, the member is always well-informed when asking questions and in his interventions in the House.
In a previous life, I was a policy adviser. Pensions was one of the files I worked on for the then Alberta minister of finance, the hon. Ted Morton. It was one of the files I really liked working on, as well as the securities file.
At the time, I remember those conversations around the table, during federal-provincial-territorial meetings of the ministers, staff, and civil servants who were there. It was not a given back then that the best thing to do was to introduce another big government solution to saving.
I have brought up the point of savings substitution repeatedly, and I have asked it of many Liberal government caucus members. What do they think will happen? There have been studies done by the Fraser Institute that show, directly, that there will be a huge impact on private savings. What will happen is that all of the money a person was going to save privately through whatever vehicle they chose, either property, real estate, the stock market, or an employer pension plan, will be reduced or eliminated and substituted by the government plan.
What I think the government wants to do, though, is in the long term to try to use that money for perhaps an infrastructure bank, to somehow invest it on Canadians' behalf, and probably with very questionable rates of return. The rate of return is really where the savings come from. I just do not think the government is able to do a better job than Canadians at investing their own money.