Mr. Speaker, I thank the member for his fine speech. I want to ask him if he could be a little more precise and elaborate a bit more on why he thinks the Competition Act is not strong enough today to deal with the bank merger which we face in this country.
I repeat that these two banks have a stock market value of around $40 billion. They are very large. They have assets of $453 billion. By far and away this is the largest proposed merger in the history of the country. The largest merger before this involved some $14 billion, if I am not mistaken, which was the merger of TransCanada Pipelines and another gas company.
I would like him to elaborate a bit more as to why he thinks the Competition Bureau and the Competition Act are not strong enough to deal with this merger. I certainly do not think it is. I believe we have to strengthen it. With the existing legislation it would just get snowed under.
I think it is very important that he elaborate on this very important point.