Mr. Speaker, one of the best ways to deal with matters such as credit cards and interest rates on credit cards is by the consumers to indicate whether or not they wish to accommodate such an industry.
When interest rates were high, generally consumers in other areas did not borrow money and did not make purchases, and recently we had it in the housing industry. When interest rates were reduced through the very fine policy of our finance minister, then consumers gained confidence and started to buy houses.
The same can apply in the credit card industry. It is best to leave it to the marketplace. Already there are changes by some of the lending institutions where in certain cases they are instituting credit cards with lower rates. It is best to leave it for the marketplace and Canadian consumers. If the consumers do not like the policy and the high interest rates, they do not have to use the cards.