Mr. Speaker, despite the rhetoric from the NDP the government remains concerned about the growth and support of small businesses in Canada.
Small businesses are the backbone of economic growth and job creation. That is why the government has worked hard over the past few years to improve the environment for small businesses, including the issue of access to credit.
We have worked with the banks to improve the reporting of small business lending activity. As a result statistics are now available publicly on bank lending to small and medium size enterprises.
Concerns have been expressed that the proposed mergers in the banking sector may result in reduced access by small businesses to bank credit. The government is indeed concerned about the potential effects on the Canadian consumer including small businesses of allowing bank mergers. The proposed mergers have the potential to fundamentally change our domestic banking sector.
The work of the task force and the future of the Canadian financial services sector will be valuable in the government's deliberations of the merger issue and I look forward to its report in September.
The government will not allow any merger in the banking sector to proceed without understanding its impact on the small business community in Canada and without the input of Canadians during the consultation process.
I invite the hon. member to join the Standing Committee on Finance when we hear from Canadians on this issue as we go across Canada. The last time I checked the Standing Committee on Finance was an all party committee. I believe a member of the NDP sits on that committee. I invite the hon. member to participate.