Mr. Speaker, I am pleased to table four petitions today on behalf of the hard-working families of Hamilton Mountain.
These families are increasingly recognizing the existence of a prosperity gap in Canada. They do not feel that they are benefiting from the economic growth they keep hearing about. Of course, they are right as we know and the numbers are backing them up. Not only is there a growing gap between the right and the poor but there is also an alarming erosion of economic security for middle class families.
To that end, hard-working families have talked to me about the over 200 commercial bankruptcies that are happening every week in Canada, for a total of more than 10,000 bankruptcies a year. We know that this has a huge impact in Hamilton.
Many of these bankruptcies leave behind employees who are owed back wages, benefits and pension contributions. It is estimated that as much as $1.5 billion per year is left owing in back wages and benefits to employees.
These people have worked hard all their lives. They have played by the rules and all they want from their government is a little bit of fairness.
To that end, the petitioners are calling upon Parliament to ensure expeditious passage of my bill, Bill C-270, which would ensure that workers would be first in line in the case of a commercial bankruptcy.