Mr. Speaker, my question is for the Minister of Finance.
Credit card debt now accounts for 20 per cent of record levels of personal debt which stands at 90 per cent of family disposable income in Canada. On top of that, bankruptcies are up 20 per cent from last year. The Bank of Canada prime rate is at 3.25 per cent while bank credit cards, oil company cards, department store cards charge usury rates, some as high as 28.8 per cent.
Will the Minister of Finance consider bringing back the Usury Act that used to outlaw this kind of immoral interest rate policy which was repealed by the Trudeau government, or what does the government intend to do about this kind of legalized robbery?