Mr. Speaker, the hon. member raises several very interesting points. First, there are more than five banks in this country. There are over sixty banks. All of the world's largest banks are here. They are quite free to lend to small business if they wish. One or two of them do lend to small business. The rest of them do not.
Opening up the banking business to what? The charters of trust companies, loan companies and the banks are all the same. Any one can get a charter if they want to. If they want to open a regional business, some have been successful, others have been less than successful. The member should look at the number of financial institutions that OSFI and CDIC insure and inspect. There are several hundred financial institutions. The options are there.
I would also point out that the member is correct in that small business indeed deals with the six large chartered banks. I do not know why. Would it be because for the most part small busi-
nesses get the financing they want from them? It is probably because they provide service to most small businesses.
I do not think all small businesses have problems with the banks. There are far too many. I hope the hon. member will review the list of initiatives I sent to each member of this House. I ask members to go over the list and tell me where these things have not been done. If there are failures in them, if the initiatives are not being pursued, then I would like to know because I will bring those up with the banks that have proposed them.
I presume the banks are serious about those initiatives. They would not have announced them if they were not. They were announced after we had pursued them. If they are not serious, then I hope hon. members will let me know. Some have. Several members have written to me. I hope the hon. member will take the opportunity and tell me of specific instances where these initiatives have not happened in his riding or elsewhere.