Mr. Speaker, I thank the hon. member for his question. I would respond by simply saying that instead of that we should have lower taxes, lower debt and more competition in banking so that people have other access to credit.
Not only does the auditor general think this does not work. Some 40% of the loans that were made were ones where the Small Business Loans Act backing was not necessary. In other words, we are subsidizing the banks.
Does my friend across the way think it is necessary to subsidize banks that make $7.5 billion in profits?