Mr. Speaker, though Canada is experiencing firm economic growth, personal bankruptcies are at record high levels, reaching 79,631 in 1996, a 22 per cent increase from 1995, according to Industry Canada.
It is our duty to ensure that everyone, including women, students and self-employed Canadians, enjoy the benefits of Canada's strong economic growth.
One way we can come to the aid of honest Canadians currently facing a growing mountain of personal or small business debt would be to enforce tougher penalties for those who abuse the bankruptcy process.
To that end, the government should consider setting up a special investigation unit to stop such abuses.