Mr. Speaker, I listened attentively to the remarks of my colleague from the Conservative party. First, I want to tell him that the Bloc Québécois will oppose the bill, not because we are against the principle, but because the Government of Quebec has already legislated in this field through the Office of Consumer Protection since this falls within its responsibility.
All types of lenders are subject to strict obligations. For the information of my fellow citizens who are now listening to our debates, the Office of Consumer Protection sets the annual interest rate that must be stated in loan contracts. All fees are calculated in the annual rate and it is thus not possible to add fees for opening a file or for forms. Finally, the jurisprudence has established that an annual interest rate above 35% is excessive. Therefore, Quebec consumers are already well protected by the Office of Consumer Protection set up by the Government of Quebec.
This is a flagrant example of duplication by another level of government, the federal government, that now wants to regulate everything that is already regulated within the province of Quebec, and surely in other provinces that are now considering the subject or that do not regulate it because they do not consider it necessary. It is the responsibility of the provinces to regulate all business practices related to loans.
This is really an example of duplication on the part of a government that promised during the election campaign to respect the jurisdiction of the provinces and to consider the effectiveness of its legislation. In fact, what it is doing is adding a bill that affects provincial jurisdictions.
I would like to know how he feels about what I am saying.
Does he agree that the government is encroaching on the jurisdiction of the provinces and is thinking for them?
Does he believe that the provinces are not intelligent enough to legislate in these areas?
If they have already legislated in this field, does he agree with the fact that they are being exempted from this bill? Other parliamentary procedures will therefore be necessary. That is what constantly involves additional cost, and that is why the public is complaining so much about paying high taxes to all levels of government.