Mr. Speaker, I am pleased to have the opportunity tonight to respond to the request from the member for New Brunswick Southwest that the Minister of Finance recommend that the Standing Committee on Finance examine the pricing practices of Moneris Solutions.
Let me begin by stating that the federal government does not generally regulate the pricing of financial services. We believe that Canadians are best served in an environment where financial services providers must compete for business and where consumers have sufficient knowledge to make informed choices. Vibrant competition will not only generate fair pricing of financial services, but will also ensure that Canada's financial sector remains dynamic and innovative.
I would like to note for the hon. member that Moneris is not the only company offering credit card processing services to businesses in Canada. In fact, similar services are provided by several other companies. As such, businesses can shop around to find the service provider that best suits their needs.
I would also like to note that the Competition Bureau is responsible for ensuring competitive markets through its administration and enforcement of the Competition Act, and has a variety of tools at its disposal to address anti-competitive practices. Consumers and businesses in the financial services sector who feel they are being overcharged, as was suggested by the member, as a result of an agreement among competitors or some other type of anti-competitive behaviour can raise their complaints directly with the Competition Bureau.
Lastly, as my colleagues stated in the House on June 11, 2003, the finance committee sets its own agenda and is free to examine whatever it chooses. If the member believes an issue should be examined in more detail, as he has indicated, he should make his request directly to the chair of the committee or ask his party representative on the committee to raise the issue.