Mr. Speaker, I appreciate your recognizing me to speak as my colleague has shared his time. I have 10 minutes, although I would like to hear the hon. member from across the way. I am sure I can stay in the House and hear his words of wisdom.
I hope my colleague will not ask as many questions of me as she did of my colleague from St. John's West.
When I was first elected, not that many months ago, I said that when good legislation was put forward by the government I would make sure that I congratulated them and that I would speak positively on positive legislation. Coming from Manitoba and western Canada, the birth place of co-operatives, I stand today to say that this legislation is very positive.
Wherever I walk in my community or in my constituency I constantly see examples of co-operatives, whether they are agricultural co-operatives, housing co-operatives or a media co-op which has been developed within the constituency of Brandon—Souris. Being the birth place of co-ops, I appreciate that legislation from the 1970s is being updated to the 1990s and into the 21st century so that co-operatives can compete in a very competitive age that we have currently with the private sector.
I should also say that I will not stray, as has been mentioned earlier. I am not prepared to stand up here and talk about issues such as Stornoway or hypocrisy or things of that nature. I would like to speak to the very positive nature of the legislation put forward, as did my colleague from St. John's West.
As we all recognize, co-operatives really are the grassroots of industry and commerce. It started in western Canada in the late 1880s and in fact was put forward because individuals wanted to work together. They wanted to, as the name suggests, co-operate with one another, put their resources, assets and abilities together so that they could, in a non-profit way, make sure that they had opportunities to compete with the private sector.
By the late 1800s, the farmers were the ones who wished to make sure that they took up this opportunity in agriculture. In the FP-500 ranking in 1995, the Saskatchewan Wheat Pool does $2.7 billion worth of business in western Canada. The Alberta Wheat Pool does $1.5 billion worth of business. The Manitoba Pool Elevators does $744 million. These are 1995 figures. I can assure members that the numbers are much larger in 1997 numbers, to the point where the Manitoba Pool Elevators have shown a record profit. When I use the term profit, it is profit that goes back to the owners of that particular co-operative which in fact are the members of that co-operative.
I can also say that we have, by example, in western Canada one of the co-operatives that is vying constantly for first place with that of the Saskatchewan Wheat Pool and that is the Federated Co-operatives. They are a wholesaler. They make sure that they supply retail to these other co-operatives and are extremely successful.
We also have co-operatives, as my hon. colleague has said, in the Atlantic provinces. They have the Co-op Atlantic. I have to say that simply because I sit beside the hon. member for Saint John.