Absolutely, that's correct, yes.
I think the underlying fundamental assumption of the Canadian public is that the government's job, your job as an elected person, is to make sure that laws don't get put in place or regulations aren't put in place that fundamentally harm Canadians. The public interest, the objective here--and the people believe that it's the government's role--is to regulate industry, private enterprise, to regulate the economy basically. There are certain freedoms that industry has, of course. But in the end, the people put their trust in their elected representatives, and the government agencies and institutions that they put in place, to protect people's interests. They're placing that trust in Parliament and their institutions.
So absolutely, that fundamental trust can't be simply transferred to the private sector. The role of government is to make sure that it functions properly in the interests of the constituents who elect them.