Liberals Must Act to Protect Employee Pensions: Sweet

November 23, 2017

Ottawa, Ontario – In the wake of the Sears and US Steel bankruptcies, which have put thousands of employee pensions at risk, southern Ontario Member of Parliament David Sweet is calling on Justin Trudeau’s Liberal MPs to review the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act (CCAA) and the Investment Canada Act. He issued the following statement:

“Too many Canadians have lost their dream of a dignified retirement after working hard for thirty, forty, sometimes, fifty years. After the collapse of Nortel, Stelco/US Steel and now Sears, it is time for Parliament to act and support workers and their families.

“Parliamentarians need to be clearly informed about all legislation that impacts employee pensions and understand how pensions are not guarded from mismanagement and underfunding.

“Based on my experience as Chair of the Standing Committee on Industry, Science and Technology in the last two Parliaments, I believe that parliamentary committees are best suited to examine important government legislation because these committees compel all stakeholders to publicly defend why legislation should or should not be modernized.

“Pensioners have raised serious concerns about the process that puts investors ahead of pensioners in bankruptcy proceedings. As a result of changes made by the previous Conservative government, a company is obligated to pay its pension obligations when it seeks company creditor protection, but there are still things we could do to improve the legislation. I call on all parties to cooperate to find solutions.”

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3 days ago

David Sweet, M.P.

Erin O'Toole
As Parliament was wrapping up this week we had some fun waiting for Star Wars: The Last Jedi.

May the force be with you this Christmas!
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Erin O'Toole

3 days ago

David Sweet, M.P.

A great cause. thanks Chris and Ben. These hand-made dolls were presented on Parliament Hill as part of an advocacy campaign and will now be part of making a child's Christmas a little more bright.This afternoon, Benjamin Levitt (Provincial PC Candidate for Hamilton West-Ancaster-Dundas) and I had the opportunity to drop off four handmade dolls to the “Miracle on Main Street” at McMaster Children’s Hospital.

The Tiger Jeet Singh Foundation started this initiative a few years ago to provide sick children with toys for Christmas.

It was an honour to meet the people involved and to be able to participate in some small way.
... See MoreSee Less

A great cause. thanks Chris and Ben. These hand-made dolls were presented on Parliament Hill as part of an advocacy campaign and will now be part of making a childs Christmas a little more bright.

 

Comment on Facebook

It’s cool that your son is going into politics, too, David!

4 days ago

David Sweet, M.P.

Tuesday at the Industry Committee, the Liberals voted down a motion by my Conservative Colleague Maxime Bernier to study the Bankruptcy and Insolvency Act and other related acts and the impact on pensioners of companies involved in bankruptcy proceedings such as Sears Canada and U.S. Steel by the end of 2017! They want to delay the study until 2019!

Canadians are concerned about the future of their pensions and they need answers now! Why do the Liberals want to keep workers wondering?
... See MoreSee Less

Tuesday at the Industry Committee, the Liberals voted down a motion by my Conservative Colleague Maxime Bernier to study the Bankruptcy and Insolvency Act and other related acts and the impact on pensioners of companies involved in bankruptcy proceedings such as Sears Canada and U.S. Steel by the end of 2017! They want to delay the study until 2019!

Canadians are concerned about the future of their pensions and they need answers now! Why do the Liberals want to keep workers wondering?

 

Comment on Facebook

This should have been a non partisan issue.

7 days ago

David Sweet, M.P.

Christmas is fast approaching! During this most wonderful time of the year, I ask that everyone consider generously donating to the local food banks and toy drives in our community so that everyone can share in the magic of the season. ... See MoreSee Less

A Christmas Message from MP David Sweet

 

Comment on Facebook

Merry Christmas to you.

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2017-11-23T18:37:41+00:00