Mr. Speaker, I listened to the comments of the hon. member. Permit me to point out a few things with regard to the matter of the banking community. As you know, it is currently subject to a surtax. The banking community too must live according to the ebb and flow of the economy and not only the national economy, but the international economy and therefore must make the same economic shift as the G-7 countries around the world are obliged to. It involves a shift from a banking system that capably handles what is known as the tangible-real
estate and securities-to a banking system that will work much better with the intangible.
During this time, the federal office of regional development-Quebec, which I head, is working with financial institutions to set up funds providing financing on a patient capital basis to enable an SMB in high tech operations to obtain funding quickly, during the time it will take the regular financial institutions to make the change.
Secondly, I think the banks definitely pull their weight in working with the federal office. Even better, I realize, after a two week tour of Quebec, that there are agencies throughout Quebec that look after regional economic development and that take the time to target the priorities of the individual regions. This shows a taste for partnership and also what a partnership can do when the partners believe in it and really want to work together.
Allow me to conclude by mentioning an organization the hon. member is very familiar with, the Prouesse organization, which I recently came into contact with, which is looking after economic development in the east end of Montreal and which has targeted certain priority sectors, including the petro-chemical, plastics and rubber sectors. They are building on these economic realities and strengths, which have grown up over the years in the east end of Montreal.