Mr. Speaker, a major problem in the country today is the concentration of economic power in the boardrooms of major corporations whose sole business is to maximize profits.
We are lobbied today by banks, an industry that has made billions in profits while using automation to lay off thousands of employees to now enter the field of auto leasing.
It is important for our local car dealers that major banks not be permitted to enter the leasing markets. They believe it would be a conflict of interest, as banks are their major source of financing. They are concerned that they will jeopardize their chances of obtaining financing from the banks if they are forced to compete with the banks in the same market.
We cannot afford to have the banks take more jobs away from hardworking Canadians. I ask all members to support car dealers in their opposition to banks' entering the field of leasing.