Mr. Speaker, the Montreal Exchange has already signalled its intention to establish a carbon exchange as soon as absolute greenhouse gas reduction targets have been set. Interest is greatest in Quebec. The National Assembly, businesses, labour, all have expressed support for the Kyoto protocol. It seems self-evident to me, especially since Montreal is home to the entire derivatives market.
When day-to-day market capitalization, the stocks exchanged on a daily basis on the trading floor, was moved to Toronto, which remains Canada's top trade exchange, it was agreed between the two trade exchanges that Montreal would look after derivatives. It seems only natural to me that this agreement be honoured and that any new derivative on the market be directed to the Montreal Exchange, with all the other derivatives.
As for the first part, with respect to the so-called action, while the government has been in office for over a year, tangible results have yet to be delivered. It is amazing and rather unusual for a government to use its own incompetence to justify what it does, for a government to come and tell the House that it can do nothing.
The main difference between the Liberals and the Conservatives is that the Conservatives know that they are incompetent. Over the course of 13 years, the Liberals pretended to be doing something, but did nothing. The Conservatives are not doing anything, but at least they realize it. That is better than nothing, but it is not enough for future generations.