Mr. Speaker, I would like to thank my hon. colleague from Yukon, not only for his question but also for being one of four members of Parliament who actually showed up to a technical briefing to discuss Bill C-50. I applaud that. The member is obviously concerned for his constituents and wants to know the impact and benefits that will come from the budget implementation bill that we are presenting today.
It is actually a delight to get a technical question and if the hon. member will please forgive me, I will make sure that I am very concise on this.
It is because of the turbulence in our financial markets and in the markets of the United States that the Bank of Canada Act, we realized, needed some improvement, some flexibility. We have made sound improvements that would provide more liquidity and flexibility to the Bank of Canada to react in what may be continuing turbulent times.
We are very confident. These changes came from discussions with the Bank of Canada. They are positive and are well supported by the industry. I thank the member for raising that question.