Home » LAW »» Employment & Labor Law

Your opinions on this huge surplus? (Employment & Labor Law)

Wed, 01 Jun 2005 19:14:00 GMT

Auditor General Sheila Fraser has once again slammed Ottawa for running huge surpluses in the Employment Insurance fund.

Auditor General Sheila Fraser
In her latest report, Fraser said the federal government took in an extra $2 billion in the last fiscal year, pushing the EI surplus to a massive $46 billion.

Fraser said that figure is more than three times the maximum reserve that the chief actuary of Human Resources Development Canada considered sufficient in 2001.

"Parliament did not intend that a surplus would accumulate beyond what could reasonably be spent on Employment Insurance," the auditor general noted.

Fraser added that she believes the government has not observed the intent of the Employment Insurance Act.

The whopping surplus in the EI fund is something that the auditor general has criticized each year since 1999, and she urged the government to take the necessary steps to resolve it.

The EI surplus has been a frequent target for the government's critics, who say the Liberals should lower premiums or pay out more in benefits.

Tight privacy laws hamper some investigations: Fraser

Tough rules on privacy and insufficient coordination hamper investigations into money laundering and terrorist financing, Fraser also said in her report.

The Financial Transactions and Reports Analysis Centre (Fintrac) was set up in 2000 by the federal government to fight international money laundering. Its scope was broadened after the 9/11 attacks to include terrorist financing activity.

Financial institutions are required to pass on all suspicious transactions to Fintrac, which analyzes the reports for links to money laundering or terrorist financing. However, Fintrac is limited to passing on only bank account numbers, dates and times of transactions and names of account holders.

"Privacy concerns restrict Fintrac's ability to disclose intelligence to the police. As a result, law enforcement and security agencies usually find that the information they receive is too limited to justify launching investigations," Fraser said.

"There is a delicate balance between privacy rights and the information needs of law enforcement. Determining the right balance is up to Parliament," she said.

Fraser pointed out that many other countries permit the flow of more information between financial investigators and law enforcement agencies.

Since its inception, Fintrac has cost about $140 million. The audit of the centre was done in anticipation of a required review by a parliamentary committee by next July.

What do you think about this article? How would you handle this situation?

Comments (0) | Promote | Bookmark |

Employment & Labor Law Open Questions

Your Expert Opinion on Union Memo to Employees

What is the name of your state (only U.S. law)? CA I work for a county in California, in the Child Protective Services Division. We are part of a union. The union and the county keep us well posted on budget and our job status (lay offs, etc). So far, so good. Our department is, thus far,......

young & need help understanding Indiana

I have worked for my company for 2 1/2 years. I have earned $5.00 in raises in two years. I am/was a supervisor at my job. In the past 30 days my work life has been crazy. I received a performance improvement plan from my supervisor that listed three areas he needed me to work on. Two of the......

You owe me that much (california)

:confused: You owe me that much .....was the last thing my former employer said to me as my almost four year job came to an end .I had $1920.00 gross pay due at the time of termination(which is being Argued also) This man , took the time out to print me ,Not one, but two checks for $0.00......

you gotta be kidding in tn

I will try to make a long story short.While working for a school sysytem for 6 years,i developed back problems.I didnt know that the problems were work related until i was refered to a specialist.The next day i filed the paperwork for w/c claim.when the worker called me,i asked which doctor......

You can't leave till we get our numbers... Indiana

How long can a IN employer MAKE you stay at work? How much notice do they HAVE to give you on this?...

Yoga Classes as Payment being denied

What is the name of your state? California Roughly 2 years ago I painted a yoga studio. I took a partial payment in cash and partial payment in Yoga classes (1 year's worth: $1240.00) I specifically stated in the contract (which was signed by my employer) that there was to be NO EXPIRATION......

Yet to receive last paycheck

What is the name of your state? Illinois I have a h1b visa. In the contract with my employer it is mentioned 6 week notice from employee side . I'm a full time employee. I gave only 2 week verbal notice. Can this be a problem or is 2 weeks notice sufficient? I get paid monthly. My last day was......

yet another wrongful termination

My wife and I worked for the same man (2 different companies, however, they were at the same location). A few months ago, my wife and I began to suspect that our boss was having an affair with another employee (someone who worked for her company). Shortly after our suspisions began, he called......

Yet another Travel Pay question

After searching the forums on travel pay entitlements I read the suggested Portal-to-Portal information and have been confused. Where one section makes it seem clear another section may seem to contradict what I just read. So I will simply state my questions and try to get a simple answer. I am a......

Yet another PTO question Colorado

Thanks in advance for any info you can give! My company has a policy that allows us to accrue up to 240 hours of PTO that can be carried over from year to year. It also clearly states that when you leave the company you will be paid out for only 80 hours of your PTO. I have read several other......

Some questions maybe you're interest in...

Army ROTC Scholarship mess

[Government & Administrative Law] What is the name of your state?What is the name of your state?What is the name of your state? Student was living in TN at time of ROTC but now lives in NC I am writing this to aid a friend. She received an Army ROTC scholarship to a college. In her sophomore year she developed migraines and.........

hypothetical i-130 scenario, dont take too seriously

[Immigration Law] lets say a USC applies for his mother via i-130, he has a bank account with assets covering the affidavit of support, would the fact that the USC is 2 years old prevent the process from working, just curious...don't flame this too bad ok folks, it's just something i noticed in the i-130 form as.........

Selling an inherited property

[Tax Law] What is the name of your state? Missouri My mother, along with her two brothers, inherited her mother's house upon her death. One of the brother's is wanting to buy her share. Her portion is only about $30,000. Would this be subject to capital gains tax and if so, what percentage? My father is.........

Security Deposit N Rent

[Real Estate & Property Law] Hi, Im Currently Living In Ca- San Marcos As An Exchange Student From England- I Signed A Lease For Aug 2004 - May 2005 However Last Sun The Landlords Daughter And Myself Got Into An Argument About The Tv And She Gave Me A Verbal 30 Day Notice- Which She Said Was For Personal Reasons..... In.........

AWOL from the Marines

[Government & Administrative Law] What is the name of your state? MN My boyfriend went AWOL from the Marines about three months ago and last week he ended up getting arresseted because of the Fed. warrant that was out. The MP's came and got him and brought him back to Camp Pendleton. Nobody has heard from him since (Including.........

probate taxes

[Wills & Trusts] What is the name of your state? virginia My aunt passed away 8 months ago and left me a trust fund. My lawyer says that I can only begin getting payments after a year has passed since the death because of the taxation process. I want to know if there is any truth to this.......

I Have a Neighbor Problem

[COURTS, LAWYERS & LITIGATION] What is the name of your state (only U.S. law)? California I've got an issue with my neighbor that I'm worried is about to turn back on me. Last week, I reported her to my landlord in order to protect my security deposit. What happened is we were out of town for several days and returned home.........

can i get diability though social security?

[Accidents & Personal Injury Law] What is the name of your state? crushed left heel 5yrs ago classified 15% disabled in left foot by doctor. close to 30yrs at job want to retire because of foot. will get pension. can i also get disability social security?[/SIZE] tennessee!......

Can Anything Be Done?

[Family Law] Okay, unlike most other minors, im not trying for emancipation do to abuse or teenage pregancy. i flat out dont get along w/ my family & i can easily support myself so i see no reason not to do so. i am 17 (Not 18 until April of 2007) & i want to move out w/ my girlfriend, Amanda, who is.........

Legal Research Forum

[Additional Legal Subjects] Welcome to the forum. Please note that ExpertLaw offers free legal articles on a wide range of subjects, including tips on finding free legal forms.......