Mr. Speaker, I thank the Minister of Finance for taking part in this opposition day debate. However, I want to remind him about the letter that Quebec's finance minister, Ms. Jérôme-Forget, wrote to him on February 28, 2008, after the budget was introduced. I will read some excerpts, and I would like to get his reaction. Ms. Jérôme-Forget said:
Accordingly, I will continue to oppose the implementation of any model leading to the concentration of market oversight responsibilities in the hands of a common or single regulator, regardless of how you call it.
As regards the panel, she also said:
As for the expert panel, I note that you have ignored the proposals made to you by the Provincial-Territorial Council of Ministers of Securities Regulation. In so doing, I believe you have missed a good opportunity to obtain information that would have helped you better understand the point of view of the provinces and territories. Unfortunately, I fail to see that yet another panel, whose conclusions seem predictable to us, can bring anything new to this debate.
Believe me when I say that I am sorry to see you invest your effort and good will, which I in no way doubt, in such an ill-advised initiative when your energies could be applied much more productively.
My question is for the Minister of Finance.
While the OECD says that we rank second among the world's best systems—not because of the government's centralizing changes—and while the World Bank is saying that we are a leader, I see only one answer in the minister's comments, and it is a terrible answer for Quebec, because he said that Canada must “speak with one voice”.
We want to keep what Quebec has obtained in this area, namely to be able to speak directly to the International Organization of Securities Commissions. That is not the position of Quebec's sovereignists, but of all Quebeckers. It is based on a motion that was carried unanimously at the Quebec National Assembly, and it is reflected in a letter addressed by Quebec's finance minister to the federal Minister of Finances, following the introduction of the last budget.
How could the Minister of Finance continue to want to move forward with a project that is not in the best interests of Quebec, or of the provinces, and that is being condemned by Quebec and the provinces? This government has recognized the Quebec nation and its right to be present on the international scene, but it tries to deny Quebec at the first opportunity. Is this acceptable? I can assure the minister that he will find the Bloc Québécois, and all of Quebec, in his path if he decides to keep moving forward with this thinking.