Mr. Speaker, may I ask the hon. member how it serves the people of the province of Quebec when 80% to 85% of the power of the regulation of securities in Canada is through the Ontario Securities Commission which is a creature of the legislative assembly of the province of Ontario?
How does that serve the people of Quebec, to have the legislative assembly of the province of Ontario determining the rules and regulations of securities regulations in Canada? If this is something desirable for the people of Quebec, that is news to me. But that is in effect what the hon. member is arguing.
It is also in effect what the minister of finance, my colleague in Quebec, is arguing as well, that Quebec does not want to be subservient to the legislative assembly of the province of Ontario because, de facto, that is the reality in Canada today.
I fail to understand how at the same time the hon. member and his party can advocate for a common carbon exchange, a national carbon exchange in Quebec, and at the same time they argue against a national securities regulator in Canada. This is inconsistent to say the least.
At one time they say, on the carbon exchange, “Oh, we want to govern all of Canada in Montreal”, and at the same time they say, “Oh no, but we don't want any part of a common securities regulator for our country”. This is incomprehensible.