Senator Carignan: I would point out that the CPP Investment website clearly states the following:

Our accountability is ultimately to our stewards — the federal Finance Minister and the Finance Ministers of the participating provinces.

It also states that the “annual report is tabled in Parliament by the Federal Finance Minister.” We are Parliament, and your government is the Minister of Finance. I think Senator Gignac is absolutely right to make this proposal, and I think it’s unacceptable for a federal board to use tax havens.

Hon. Claude Carignan: My question is a follow-up to Senator Gignac’s question.

Leader, I’m not satisfied with your response to Senator Gignac. You know very well that the Canada Pension Plan Investment Board was created by an act of Parliament and is accountable to the government and to the Minister of Finance.

Wouldn’t it be a good idea to amend the Parliament of Canada Act and set out clear investment guidelines on avoiding tax havens?