Mr. Speaker, I thank the member for his question. He has been frank because he does not know or probably is not up to date on how many recommendations from the auditor general's report have been incorporated into the new act.
When we debated Bill C-21 we had concerns and we mentioned them. The auditor general has a full chapter on this, chapter 29, and he has included all the details. I had a long list of the changes which are expected to be made in this bill so that this bill can be effective.
We will support this bill once it is effective. It will be a good bill provided these changes are introduced which are not introduced at this time. Who would not support modernization and improvement to small businesses? Who would not support increasing the availability of financing for small businesses for their expansion? We will, but only when this whole program is effective.
The system is abused. The banks are using all kinds of practices to abuse the system. It is not the small businessman who is taking advantage of the system. There are many examples that can be put together.
This bill needs a lot of amendments. The whole small business loans program, introduced in 1961, has not been renovated.
Once the changes I mentioned in the conclusion of my speech are incorporated, we will be more than happy to support this bill. Until then, we ask the government to take this opportunity, take the free advice from the official opposition and include it in the bill so that it affects small businesses.
We want small businesses to progress in this country because they are the ones creating jobs. Let us create the tools. Industry Canada has the opportunity to have those tools in its hands and to give those tools to small businesses to take advantage of.