Mr. Speaker, the Bloc Quebecois finance critic has very eloquently just stated the government's motivations for creating a new Canadian securities commission.
This raises the same old debate. Later on I will ask him to elaborate on this. The Bloc Quebecois has always called for an end to administrative duplication. The federal government claimed it was willing to look for ways to reduce duplication. This time, however, there is no duplication.
In Quebec, we have our own securities commission. The federal government has decided, according to its own logic, to create a Canadian securities commission, thus creating a duplication which did not exist before. The federal government will then say: "Since we agree that duplication should be avoided, the solution would be to eliminate the Quebec Securities Commission. Since duplication is to be avoided, there should be only one commission".
This is what the federal government's centralizing policy is all about. This is what will happen. Whenever there is duplication, the province, especially Quebec, is asked to withdraw from this area of jurisdiction, and duplication is created where there was none before. Then the federal government tries to justify its action by saying that the province should withdraw in order to avoid duplication.
I believe this is a red herring, and we join with the official opposition critic in demanding that the federal government withdraw from this area of provincial jurisdiction. I would like my colleague to add something on this matter, if time permits.