moved for leave to introduce Bill C-335, an act to amend the Bank Act (foreign banks).
Mr. Speaker, the purpose of this bill is to open the Bank Act to foreign banks, foreign competition, so that they can provide more money to small businesses in Canada and create more jobs.
For the last two years the banks, the so-called big six, made $5.6 billion in profit and had more lay-offs to Canadians. This act requires them to open their purse to small businesses to give more money. Some are doing it but some are not doing enough.
This requires them to give small business more money in order to create more jobs for Canadians to work rather than to depend on social welfare programs.
(Motions deemed adopted, bill read the first time and printed.)