Mr. Speaker, last year Canadians watched with dismay and increasingly with alarm as Liberal leadership candidates financed their ambitions through big loans from wealthy individuals.
Today I introduced legislation with respect to accountability with respect to loans, which will complete the work of eliminating the undue influence of big money in politics. Corporations will be banned from making political loans. Major political loans will only be available from registered financial institutions on a commercial basis.
We are taking action to clean up campaign financing in Canada. We are strengthening accountability with measures that are modern, realistic and effective, restoring the confidence of Canadians.