Thank you, Mr. Chair.
Good morning, gentlemen, I listened to Mr. Macklem's presentation. As my colleague who spoke before me said, the Canadian financial system is highly spoken of. We are always comparing ourselves to our American neighbours. You talked about the reasons why our performance is better, here in Canada. I believe that you are right.
However, at the very end of your presentation, without any warning, you mentioned the fact that the government seeks to establish a pan-Canadian single securities commission. You did not provide any explanation for that statement. This is a major change that has not garnered any consensus among Canadians. This is certainly not the case in Quebec. We are, indeed, committed to preserving the Quebec Securities Commission so that we can determine our own priorities. To my knowledge, the system works very well. In fact, you provided the proof yourself.
How can you support the government's decision in such an indirect way? You did not provide any argument in support of the creation of a single regulator, and yet, this is a major change that the Government of Quebec stands against. In fact, the National Assembly of Quebec unanimously decided to oppose the creation of a single commission for the entire country. How can you say that the government is going to achieve this, as though everything will remain the same?