As we've experienced over many years, there have been so many examples of people taking out a loan without knowing how expensive it was. It can create a debt trap for people. It's very difficult to move forward financially when people are struggling with those debt payments. We believe that lowering the criminal rate of interest can create better opportunities for people to access affordable and fair financial services and products.
As we see with people struggling to make ends meet, especially with the rising cost of living, it is important that we don't have additional costs from borrowing. We believe that the criminal rate of interest being considerably higher across the country—other than in Quebec—for a generation now is patently unfair because the people who are often the least able to afford credit are actually paying the most for credit. It is a very significant change to lower the criminal rate of interest and improve the enforcement of the criminal rate.