Mr. Speaker, I am pleased to be here this morning and to be able to support and to be part of a process in which democracy is operating in its truest form.
The committee developed recommendations that will support small business. These were developed based on the people's commentary. The committee has come up with recommendations that in my opinion will definitely help to develop small business in Canada.
Some of the key recommendations are the increase of competition among financial institutions by increasing the number and kind of institutions that provide financing; setting interest rates under the Small Businesses Loans Act that are commensurate with risk; developing a code of conduct for banks; and the establishment of a bank ombudsman with the power to investigate and order compensation on matters of breach of duty or maladministration in order to ensure a level playing field between businesses and banks.
We know that small businesses play a major role in the economic development of Canada. We need to shore up this part of our sector. Our economic future is dependent upon them and this report. If the government sees fit to implement the recommendations, we will have a better climate as a result of this development.