Mr. Speaker, I would like to comment on what our colleague from the Conservative Party has just said.
First, we know that with this bill, workers and companies will have to contribute more to a fund so that when people go on retirement, they will receive an amount that may not be very high but that will nevertheless be essential.
We know also that if we do not act now, it will not be long before the Canada pension plan can no longer meet its obligations. That is why, I repeat, the Bloc Quebecois supports this bill.
But also, when money is taken from employers and employees, it is also taken from the economy in which they are living, and these are considerable amounts that workers or employers will not be able to recycle in the economic system through the purchase of goods and services. It is therefore essential that the money that will be taken and given to an agency responsible for reinvesting it be invested in a way that allows these communities to continue to rely on the economic activity they require to survive.
However, if I heard correctly, the motion that has just been presented would allow and would require the investment board to reinvest without taking into consideration the social aspects or the economic impacts in the community. I believe that in fact this agency should have a social conscience.
I would like to mention in this respect the case of Quebec and its Caisse de dépôt et placement which has in fact allowed the Government of Quebec to ensure greater economic returns for Quebec in keeping with the requirements of Quebec society. It seems to me that the federal government would be well advised to consider what is being done in Quebec in this area and to do the same.
That is in fact my interpretation of what it wants to do with the bill we are considering. It seems to me that any amendment that would not limit the board's ability to make investments through which Canadians can obtain a better return not only when they retire but also now when they are contributing is a step in the right direction. Any amendment that would go against that objective would be a step in the wrong direction.
I think it is also important to note that for an employer or an employee who will see next year an increase in his or her contributions to the Canada pension plan, this will have an impact in terms of competitiveness. I was pleased when the Minister of Human Resources Development announced a reduction in employment insurance contributions. I consider that this also is a step in the right direction, because it will allow in fact to maintain payroll taxes and other deductions at an acceptable level.
However, the Minister of Human Resources Development did not bother unfortunately to consider the retroactive effect of an increase in contributions for the current year, and this will definitely have an impact on the personal disposable income of each worker and on the production and operating costs of every business.
In economic terms, this has a significant adverse effect. And in the future, as the contribution rate slowly increases, it will be important to reassure our business community, our businesses and their employees that adjustments to employment insurance premiums or other measures will indeed counterbalance the drain on corporate or personal finances caused by contributions to the Canada pension plan.
This is a matter of economic balance. We cannot dip into a lake indefinitely and hope it will keep filling up by itself. It will need water sooner or later. He who draws water out of a lake has to ensure that a soothing rain falls on the area, other wise it will dry up. This is a simple principle, and the example was an obvious one, but that is reality. Businesses and employees cannot keep on paying indefinitely.
At one point, the economic balance will be destroyed and this will have repercussions on our society, as it will slow the economy down, with fewer businesses employing fewer people, who will produce fewer goods that fewer consumers will be able to buy. That is not what Bill C-2 seeks to do. However, it would be important that the government side give the business community and our workers some indication that it is aware of this and will take appropriate measures to protect the sound balance I just mentioned.
In closing, allow me to say that, in Quebec, we are 35 years ahead on this pension plan issue. We have a pension plan in Quebec. Quebec's experience was a good experience, and I only hope that our Canadian friends make the most of it.