I certainly agree with my colleague Don Davies that division 5 of part 5 should not have been in here. Again, to my friends on the Liberal benches, what I've tried to do here, rather than delete the whole section, is say that if you're going to introduce the concept of a regulatory sandbox and the furtherance of innovation, bracket it by talking about genuine innovation in financial services, and don't make it so broad that it could affect health and safety.
When a minister is making this decision in the absence of any consultation or public process, how are they to weigh the benefits versus the risks? The benefits will only accrue to the applicant who's asking to be exempted from a law. The risks will be widely felt by Canadians—maybe from coast to coast—by indigenous communities and by an environment that can't speak up for itself.
This is a significant overreach, and I beg my colleagues to please accept my amendments, which are put forward as something of a compromise.