Thank you, Mr. Chair.
Just so we're clear here, obviously the Liberal and NDP coalition is really strong. It continues on. They're trying to delay this Conservative private member's bill, on which it was agreed to move forward. Why do they want this bill to be delayed? It's really interesting, because we know that the Liberals and their NDP partners are big fans of big business.
What will this bill do? We know that this Conservative private member's bill will address a lot of the banking challenges in Canada that are due to a lack of competition. Competition is a major issue, and the banking sector in Canada is like an oligopoly. There's very little competition, and we've seen this even with recent mergers. We know that the contents of this Conservative private member's bill were promised by the government probably up to seven years ago, and now they want to delay this Conservative private member's legislation.
This is at a time right now as well when unemployment continues to rise in Canada.
We heard damning testimony earlier today, while working on the study that is happening at this committee right now in pre-budget consultations, on competition and how the tech sector is being crushed by the policies of this current Liberal government. It was testimony on how GDP per capita is down in Canada, productivity is down and investment is leaving Canada. We heard that just moments ago.
Here we have this Conservative private member's bill that has an opportunity to address issues in one particular industry, and the Liberals and NDP want to delay it. It's actually quite unbelievable. This private member's bill should have been fast-tracked, if anything, because it would save the average Canadian family $400, as has happened in the United Kingdom.
Right now we have this strong, continued coalition between the NDP and Liberals. They're teaming up. It's like they want to support the big banks and they want to support a lack of competition. We know they've already supported mergers in this country that have left less choice for Canadians. We've already seen cost increases for Canadians. The lack of competition is a huge issue. The private member's bill we're discussing here, which the Liberals and NDP want to delay, is in an industry where there is a real lack of competition. We have it in the aerospace sector and the banking sector.
This government, supported by the NDP, continues to create policies that are not helpful. Productivity is down in this country. We know that people's paycheques aren't going as far. We have some of the most expensive services in Canada, including in the banking sector.
You have to wonder why the Liberals and NDP want to delay this Conservative private member's bill that would address some of the issues and at least open up opportunities in the financial services sector and in the banking sector. It's really odd, considering there are timelines that Parliament sets out, that the government hasn't dealt with this and now they want to delay this private member's bill.
It just doesn't seem to make any sense. Wanting the biggest companies that have very little competition.... It just doesn't make sense. Why would they want to prevent this Conservative private member's bill from moving forward? That's a question that Canadians should be asking.
Thank you, Mr. Chair.