Mr. Speaker, the question of the hon. member for St. Catharines gives me the opportunity to discuss another important government initiative, the proposed changes to the Federal Business Development Bank.
The changes in that bank are an example of the government's commitment to promote small business growth, innovation and job creation. Many people in small business have told us over the last two years that they have a lot of problems with the banks in negotiating, refinancing and getting new money for their small businesses.
The minister responsible has decided he needs to make some changes directly to the Federal Business Development Bank. These changes have been made as the result of a comprehensive small business policy that was developed in 1994. This institution will expand its operations thereby ensuring its programs and services meet the changing needs of small business today. This institution will be given a revised mandate to develop and deliver innovative responses to small business financing and managerial needs. Small businesses in all the ridings across Canada have expressed the need for this.