Mr. Speaker, I would like to say to the leader of Her Majesty's loyal opposition, the industry critic for the Bloc Quebecois, and the hon. member for Edmonton Southwest who is the industry critic for the Reform Party that the government appreciates the co-operation on this bill. If we were not able to get this bill through today, it would have had an adverse impact not just on the bank as we know it but also on meeting the objectives of helping small and medium sized business over the next three or four months as we adjourn this House of Commons.
As we have debated over the last couple of days, the new Business Development Bank of Canada has been given a new mandate. This new mandate allows the capital of the bank to increase substantially to close to $18 billion. It also means that the bank can be a real force in this country in a complementary way in supporting other financial institutions.
We also have to acknowledge that the bank is not just there to help in making loans to small business. It is also there as a counselling assistance bank. Very few Canadians realize that one of the unique features of the Business Development Bank of Canada is that it has one of the most sophisticated counselling assistance programs in any financial institution right across Canada.
We have given an undertaking that by allowing this bill to proceed quickly today with swift passage, that we on this side of the House will not accelerate the activity of the bank in the province of Quebec before the referendum unless the Bloc changes its mind and wants the bank to be much more aggressive in its lending activities and its presence. That option is there for the Bloc to decide whether or not it wants more activity by the bank before the referendum or if it would like us to wait until after. That decision is with the Bloc and we will honour that commitment.
On behalf of all government members and of course all of our members on the industry committee we have worked as a team in designing this bill and putting it through the House of Commons. Without the opposition's co-operation we could not have had such swift passage. This is an example where all of us are working together to get this economy going.