Mr. Speaker, it is an honour for me to rise to speak to the bill amending the Canada Elections Act and the Income Tax Act (political financing).
We are aware that the Prime Minister of Canada and the Leader of the Government in the House of Commons have introduced a bill to better govern the financing of political parties and candidates, in order to improve equity and transparency and to restore Canadians' confidence in our public institutions.
Some fundamental changes to the way federal elections are financed are required in order to dispel Canadians' perception that big business and labour unions exercise undue influence through large donations in exchange for favourable treatment, and that the arrangement is reciprocal.
Five provinces already have legislation restricting political contributions by individuals, the Province of Quebec in particular. Several years ago, under René Lévesque, Quebec adopted well-received legislation on political financing. Two of the five provinces ban donations by corporations or unions.