Raymond Côté

[Business of Supply, February 2nd, 2012]

Mr. Speaker, I listened closely to the hon. member's speech. I want to thank him for reviewing every aspect of the public retirement plans, but I am shocked to hear him say how good the plan is and that a potential deterioration might be justified. I absolutely do not understand.

Nonetheless, more importantly, at no time does my colleague assure Canadians, seniors and our future retirees that the government is going to maintain full indexing of the old age security and guaranteed income supplement plans or that it will maintain the eligibility age at 65. Members talk about adjustments or trying to protect the system. If we change the system, it will cost our seniors.

Can the hon. member assure us that indexing and the eligibility age will not be touched?

[Pooled Registered Pension Plans Act, January 31st, 2012]

Madam Speaker, in the previous speech, we were told that it was possible to educate people with the famous financial literacy bill. In fact, half of all Canadians do not file their own tax return, something that is an unavoidable annual event, a civic duty. This is so because those people feel incapable of doing it themselves. They ask their loved ones or a professional to handle it for them. Unfortunately, they have to pay for a basic task that they should not have to pay for because the tax system is far too complicated.

As far as I understand it, Bill C-25 will create the equivalent of hedge funds for the retirement of future workers because they will live with uncertainty. What does the hon. member think of the uncertainty and stress this will create for the future of the country? With their growing numbers, retirees represent a significant contribution to our economy.

[Pooled Registered Pension Plans Act, January 31st, 2012]

Mr. Speaker, yesterday, on my train ride to Ottawa, I was reading a columnist in Les Affaires who was saying that unfortunately, in light of the low interest rates, it is already a nightmare for private pension fund managers to invest future retirees' money and hope for a return.

Between pirates who invest recklessly in speculative markets, imbeciles and white collar criminals, not to mention life's challenges, how does my colleague justify causing our future retirees and our seniors so much stress?

[Pooled Registered Pension Plans Act, January 31st, 2012]

Mr. Speaker, I must congratulate the minister of state on his excellent questions, but if the government made the necessary effort with the provinces to improve public pension plans, results would definitely be achieved. However, considering this government's record in that regard, clearly, the war continues. This is obvious with securities authorities.

One of the major problems with the government's bill is that it places all of the risk squarely on the shoulders of Canadian workers. A defined contribution plan makes workers and pensioners vulnerable to all kinds of events, both unintentional and deliberate. This has the potential to turn into something very shameful.

I have an excellent question for the minister of state. How can the minister of state and his colleagues possibly promote pension plans that could jeopardize workers' savings, since workers could be held hostage by incompetent individuals or even crooks?

[Pooled Registered Pension Plans Act, January 31st, 2012]

Mr. Speaker, Canada’s private pension funds are already suffering from the unfavourable market conditions. The base interest rate is very low, which makes for negligible and even negative returns in the stock market. There are already chinks in the armour of the pension funds in which Canadians voluntarily participate, and Canadians’ pensions are already in peril.

With this kind of system, the additional influx of money would flood an already saturated market and fuel unfettered speculation. In some ways, it would create the perfect storm, which could threaten the future of our retirees.

How can my colleague justify supporting such an ominous plan for the future of our pensions and the economy in general? After all, our retirees play a major role in Canada's economy.

[Pooled Registered Pension Plans Act, January 31st, 2012]

Mr. Speaker, for the past 25 years, the OECD data have clearly demonstrated that costs in the field of health care are far lower when the public sector is responsible for service delivery. The same logic applies to the pension benefits our employees receive. Moreover, Canada's public pension systems are well funded, safe and reliable, according to all the experts.

Can my colleague explain how gambling with Canadians’ money in much higher risk schemes than the ones the government offers will reassure Canadian workers and guarantee them a pension?

[Questions Passed as Orders for Returns, January 30th, 2012]

With regard to the Business Credit Availability Program (BCAP): (a) what is the total amount borrowed from the program for each fiscal year since it was created; (b) how many loans over $250 million dollars were issued; (c) which enterprises or individuals received loans over $250 million dollars; (d) how many loans between $25 million to $250 million dollars were issued; (e) which enterprises or individuals received loans between $25 million to $250 million dollars; (f) which enterprises or individuals received loans less than $25 million dollars; (g) what sum from the whole of BCAP's assets was given out as (i) loans, (ii) grants, (iii) subsidies; (h) what was the form (checks, bank loans, business loans, credit cards, cash) of the BCAP's loans, grants, and subsidies; (i) what were the conditions of acceptance to receive the BCAP program's support; (j) who was deciding on rejecting or accepting businesses into BCAP's loan program; (k) what were the eligibility criteria of BCAP's measures for businesses; (l) was there an evaluation grid of criteria needed for a business or individual to have access to BCAP's helping measures, and, if yes, who was the person or group of persons responsible for taking decisions concerning helping or not helping a business; (m) what is the total number of businesses that were directly helped by the BCAP program; (n) what was the composition of the oversight group managing the BCAP program; (o) were there any private companies involved in the acceptance or rejection process of the BCAP program, and, if yes, what were the names of the individuals that were involved and what were their roles within the BCAP program administration; (p) were there any conditions to receive financing from BCAP program; (q) what was the percentage and sum within the amount of BCAP resources allocated to small businesses (under 100 employees); (r) what was the percentage and sum within the amount of BCAP resources allocated to small businesses (under 500,000$ in revenue); (s) what was the percentage and sum within the amount of BCAP resources allocated to small businesses (under 500,000$ in revenue and under 100 employees); and (t) was anyone from the private sector consulted to allocate the resources of the BCAP and, if yes, what were their names and what were their roles in the process?

[Questions Passed as Orders for Returns, January 30th, 2012]

What is the total amount of government funding since fiscal year 2004-2005, up to and including the current fiscal year, allocated within the constituency of Beauport—Limoilou, identifying each department or agency, initiative and amount?

[Employment, January 30th, 2012]

Mr. Speaker, the situation at the White Birch Paper plant is a flagrant example of the Conservatives' inaction when it comes to employment. The need to strengthen the Investment Canada Act is pressing because Canadian workers can no longer afford to pay for this government's ineffectiveness. Thousands of jobs have disappeared in the manufacturing and forestry sectors and this government is doing nothing about it.

Are the Conservatives going to keep claiming that everything is just fine? What are they waiting for to take action and finally protect high-quality jobs in Canada?

[Employment, December 15th, 2011]

Mr. Speaker, that is not the only concern of workers in Kénogami. Really, it is the complete hemorrhage of the pulp and paper industry. Some 600 workers at White Birch Paper in Quebec City are without work, because the plant shut down. Pensioners from those plants will not be spared, for they will not be able to access their full pensions. These workers deserve to retire with dignity. The NDP bill would give them their full pensions.

Does this government plan to change the legislation to protect these workers' pension benefits?