Mr. Speaker, it is a pleasure to announce in this House that yesterday,
members of the Quebec National Assembly passed a resolution urging banks and department stores to reduce credit card interest rates.
Last week, a group of more than 80 members, including myself, representing the majority of federal political parties, came together to put pressure on banks and department stores to bring down their interest rates.
At a time when interest rates are at their lowest level in 30 years, it is inconceivable that rates charged on credit cards are still at 16 per cent and 29 per cent.
Banks and department stores should also make a contribution to the economic renewal of our country, and we are confident that, with the support of the other provincial legislatures, we will convince them to do so.