Mr. Speaker, I would like to ask the hon. member who just spoke about the commitment that he has, or that his government has, toward young people, or is the commitment primarily to the banks of Canada? It is particularly with reference to his last comments when he talked about student loans and the privilege that young people have subsidized interest rates on their student loans.
It is true that while they are attending university or a post-secondary institution of some kind the government pays the interest on these loans to the banks so the student is free from paying them.
When the student graduates he or she is then obligated to repay the loan at an interest rate exceeding the prime rate in the bank system. Is the government's primary concern about young people, or is the government's primary concern to absolve the banks from incurring any risk for these, our most educationally elite people? These people will lead industry in their areas. What is the real purpose behind this whole operation?