Mr. Speaker, I wish to thank the hon. member for his question because this is a very important issue. Actually, interest rates on credit cards in the retail sector are governed by provincial regulations. This is nevertheless an important issue which I have discussed, in writing, with the president of the Retail Council of Canada. It is very important that we find a way to bring down the interest rates on retail store credit cards as well as those issued by banks.
In the House of Commons on May 27th, 1994. See this statement in context.