I have tabled two other motions that deal with the future business of this committee. Both motions are equally significant; allow me to read the first one: “That the Finance Committee undertake a study on government assistance to the Canadian financial sector.”
People know that the government has approved significant measures for the financial sector, specifically targeted to banks. It is important to guarantee a certain level of transparency that will allow us to see how banks are responding to this assistance, and how people are able to benefit from this. It is therefore important for parliamentarians to make sure that there is a follow-up and to ask questions of those directly concerned.
We also have to measure the impact of the implementation of these measures on public finances. Are there accountability indicators? What is the scope of these indicators and how are we going to make sure that individuals and businesses are indeed getting access to credit? The budget holds significant support measures that will ease access to credit for the automobile sector, among other sectors. Savings are also being affected by these measures.
It's important that we be able to discuss the stability of the Canadian system in an open and public way. As so we are suggesting eight meetings to hear from officials from the Department of Finance, the Office of the Superintendent of Financial Institutions, and industry representatives. This committee must endorses measures that would promote transparency and accountability the part of the financial sector, while minimizing risks for public finance, because it is taxpayers' money at stake.
I suggest that we hold two meetings to examine and present recommendations to the minister. Those are the terms of the first motion.