Mr. Speaker, the importance of private member's bills in focusing the government's attention on matters of great concern to Canadians cannot be underlined too strongly.
There are many examples of it. Certainly one of the best is the private member's bill by the member. In the ensuing debate he brought forth a number of very important reasons the government should allow foreign branch banking. It will help small and medium size business gain access to capital. It will bring greater competition into the Canadian marketplace. It will force the continued modernization of the system.
The legislation will be introduced later this session. I congratulate the hon. member on his initiative.