Mr. Speaker, I appreciate the intervention by the member opposite on the topic we are discussing, accountability with respect to loans, but if people had tuned in to listen to the member half-way through his 20 minute speech, they would not have had a clue about the bill we are debating. The member went off onto other tangents, which he, like any other member, is entitled to do, but I would like to bring us back to the debate on the bill.
The bill we are debating today deals with loans for those running for office and its principles are fourfold. It establishes a uniform and more transparent reporting regime for all loans to political parties, associations and candidates. Unions and corporations will now be banned from making loans to political parties, associations and candidates, consistent with the Federal Accountability Act. Total loans, loan guarantees and contributions by individuals cannot exceed the annual limit, which in 2007 is $1,100. Only financial institutions can give loans at commercial interest rates to political parties. The rules for the treatment of unpaid loans will be tightened to ensure that candidates cannot walk away from unpaid loans. The actual riding associations will be responsible.
That is really what we are debating today. I know that my colleague from the Bloc started by talking about that. I just want to be on the record to make sure that people watching or listening at home will understand what we are talking about today. I also want to confirm that the Bloc is supportive of those four principles or changes. Is there anything in the bill that it is not supporting?