Mr. Speaker, I find it easy to agree with most of member's remarks. Previous speakers on behalf of our party have already voiced their support for this bill and we will be looking forward to doing that.
I would like to remark on some of the things that were raised in regard to the current situation that small businesses face when looking for venture capital. They lack support from the banks which leads to the need for the Small Business Loans Act. It is quite common knowledge that many small businesses that wish to grow or create jobs or to build their base have been flatly turned down by the conventional lending institutions.
In my own province of Manitoba, over 80% of all the venture capital given out last year was given out by the Crocus labour investment fund and not by the banks. In other words, small businesses wishing to access venture capital or any type of a business loan, even if they do have a good business plan and even if they do have the equity necessary, are not getting the help they need, which leads to the importance of things like the small business loans program.
What does the member think of the current situation? Banks are not meeting the needs of small businesses with the capital that they need. Does she think the merger of the major banks is going to lead to better service, or should her government be looking for ways to curtail these mergers? Maybe the member could speak to the impact these mergers might have for small businesses looking for business loans or venture capital.