Introducing Bill C-601, An Act to amend the Income Tax Act and the Employment Insurance Act

Ms. Irene Mathyssen (London—Fanshawe, NDP)
moved for leave to introduce Bill C-601, An Act to amend the Income Tax Act and the Employment Insurance Act (severance pay).

Mr. Speaker, today it is my privilege to table new legislation on severance pay and employment insurance benefits.

In the London community and across Canada, we have experienced the effects of plant closures and job losses and heard the stories of Canadians who have worked at plants for more than 30 years, only to be let go due to plant closures.

My bill is intended to address these often catastrophic economic disasters that families face, to reverse these setbacks and to replace them with hope and optimism.

The bill would allow any worker who has lost his or her job through no fault of that individual to make a one-time-only lump sum payment over the maximum allowable investment into their RRSP without financial penalty. It also would ensure that workers receive the maximum amount of EI benefit for which they are eligible.

After years of work, no individual should have to give up retirement security, a family home, the dreams of their children or hope for the future.