Mr. Speaker, I realize that the members from the Bloc do not understand the bill. The member said that we are in favour of the 60% interest rate mentioned in the bill. That is not the case. The situation is quite the opposite. We reject the idea that we should simply talk about a 60%interest rate.
We have said the opposite. We have said it does not work in the rest of Canada. Maybe there is a good system in Quebec, but it does not work in the rest of Canada because all of these payday lenders have managed to put together all kinds of other fees, so that 300%, 400% or 1,000% interest ends up being paid. There is no way around it because of the way this area is regulated.
This is not about kow-towing to the federal government. We are simply saying that we would like the federal government and the provinces, not Quebec because it has its own system, to agree that they will put aside the criminal rate of interest, which is 60%, when a province has a better system to manage this area.
It is as simple as that. That is the way things are. That is all. The issue is not one of restrictions, it is not about the weakness of provinces like Manitoba. The issue is an issue of fairness for all people throughout Canada.