Competition is good. I hear the Liberals questioning and heckling about competition. We love competition and a competitive economy, but businesses do not want to compete with the federal government. They do not want to compete with their own tax dollars. They do not want to compete directly with a federal corporation or institution in which they have put tax dollars.
We are also concerned that the expanding powers of the FCC would simply duplicate the existing authority of other public financial institutions such as the Business Development Bank. The Business Development Bank, which realistically does not have a great track record, would then perhaps move out of areas dealing with agriculture.
It would appear that Farm Credit Corporation would simply deal with agriculture and not the farm. Its name is to be changed to Farm Credit Canada. Maybe it should just be changed to agriculture because they have forgotten the family farm.
Our amendment would ensure that FCC's new powers do not duplicate the authority problem that is currently present in the Business Development Bank. We are also very concerned about one aspect which we brought to committee and which the hon. member for Cypress Hills—Grasslands raised in the House on a number of occasions.
We are concerned that Bill C-25 will allow Farm Credit Corporation or Farm Credit Canada to become a significant land holder. The amendment is designed to ensure that the federal government does not become a major holder of Canadian farmland. By so doing it would not influence the market price of land.
I think we would agree on all sides of the House that we have seen places and times in Saskatchewan when there was a great land bank. The government owned land that had been turned back to it. We want to see changes that would prohibit the owning of farmland by the government, thus influencing the market value of land.
Our concerns on this subject were increased during the clause by clause debate in committee. The chairman of FCC indicated that it could consider taking possession of land in the government's yet to be announced plans to facilitate intergenerational transfer of farmland. FCC and the government should have no objections to this motion because the FCC has stated in testimony before the committee that it was not its intention to become land holders.
We have seen time and time again that intentions may be the best, but obviously sometimes legislation allows for loopholes or just the opposite. Farm Credit has also testified that it works to ensure that land is sold at prevailing market prices and that FCC does not influence land values. All members of the House, even those on the other side, believe that the longer a federal government corporation holds on to land it will not sell it for this price because it has money vested in it. As long as that happens it will influence the value of that land on the market.
Motion No. 3 is similar to an amendment we brought forward at committee. With the consideration and the wisdom of the House I believe that all three amendments and recommendations will be accepted.