Thank you, Mr. Chair.
Mr. Jenkin, one of the reasons I asked for this study was that there was also a participatory part of this Parliament and the government to shift consumer purchasing during the pandemic. We went to more credit cards and other types of purchasing power. We've seen online purchasing increase and so forth. There hasn't been much of a regulatory response or an acknowledgement that we've shifted consumer spending to different types of things. What I want to be specific about is more people are using credit cards to purchase groceries and common items that would be more associated and historically related to cash purchases.
Do you have any comments about consumer spending on items that are predominantly historically linked to immediate needs and the welfare of a family? The borrowing practice has upwards of 20% to 30% interest rates and other types of associated fees. Those wouldn't have otherwise been part of consumer debt, because they used other types of payment, predominantly cash.