Mr. Speaker, Canadians are faced with several hundred credit card choices. Many of those credit cards have very low interest rates below 10 per cent, some as low as 9.25 per cent. Canadians have that choice.
There is also a wide variety of items on credit cards: discounts on goods, airline points and all of these various things. It is not that Canadians do not want those choices. Canadians do want those choices. The cost of credit cards is a very small proportion of consumer debt. I believe that something like 3 per cent of the total consumer debt is on interest bearing credit cards so it is really a very small proportion of that.