Mr. Speaker, again it amazes me that the Alliance Party, the former Reform Party, thinks that competition always has to be in terms of foreign competition. On the airline policy, it would like to have more American carriers up here which eventually would destroy our Canadian airline industry. It also wishes to have more foreign control of our financial institutions which would probably mean the end of Canadian control of our banks.
When talking about the banks, as they do about the post office, most Canadians do not say very many positive things about the banks but they do speak about the poor service or bank closures in their communities.
This bill will give a tremendous amount of power to an individual finance minister. He or she will have tremendous powers and will become a banking czar, taking away parliamentary responsibilities or even the ability of members of parliament, duly elected by the people of Canada, to have any input. This is similar to the minister of fisheries whom we now call the fishing czar who has tremendous powers within his ministry which override the will of parliament.
Could the hon. member comment on the fact that the bill would make the finance minister a banking czar who would sometimes override the will of parliament?