Mr. Speaker, the hon. member has properly identified a problem the government in its deficit reduction program has identified and is seeking to address, the very high level of foreign indebtedness which exists primarily in the private sector and in a number of provincial government borrowings.
I do not believe, however, the solutions brought forth by the member really suit. We must increase the percentage of Canada's savings.
As far as the reserve requirements of the banks, if we are to create jobs we want to make sure our banks are competitive with other banks.
As far as the 20 per cent rule, we have looked at it. As members know, there have been recommendations that the 20 per cent rule be increased. Those are not recommendations I would be inclined to accede to at this time.