Mr. Speaker, I will use the two minutes remaining to summarize the Bloc Québécois' position with regard to the Minister of Finance's intention to establish a single securities regulator.
It is very important to clearly understand that Quebeckers do not support this initiative. Securities fall under the jurisdiction of Quebec and the provinces. It is imperative for the government, and the Minister of Finance in particular, to realize that it will face a major obstacle, especially in Quebec, if it decides to proceed with this initiative.
The National Assembly of Quebec is unanimously opposed to the establishment of a common securities regulator. I find it difficult to believe that any Quebec members, whether Liberal or Conservative, would vote against this motion that defends the interests of Quebec by concurring with the National Assembly of Quebec.
We should also remember that establishing a common securities regulator would jeopardize the survival of trading activities in Montreal and, additionally, would favour the concentration of financial markets in Toronto. Once again, this situation is completely unacceptable to Quebec.
In closing, I would remind you that the World Bank and the OECD reported that the current system, governed by an agreement among all provinces except Ontario, provides for a market that permits exchanges. This system works very well and is more cost-effective than that proposed by the Minister of Finance.
For all these reasons, the members of the Bloc Québécois will definitely be voting in favour of the motion asking the Minister of Finance to abandon his initiative.