Mr. Speaker, I thank my colleague for that question.
I in fact said this earlier at the start of my speech explaining my motion today. There is no doubt that a system where the provinces have responsibility operates smoothly. The Constitution gives them regulatory power. The bodies in each province have organized themselves. They are structured and have created jobs. The evaluations tell us our system works well.
When we realize despite all that, despite the unanimous opinion and the strong opposition in Quebec to a single securities regulator, that only Ontario does not want to be part of a system of passports as advocated by the International Monetary Fund, because Ontario wants to benefit from the creation of a single securities body in opposition to all that, we see that the present government and the Liberal government before it wanted to favour Ontario over Quebec.
The whole question my colleague is raising is the question of the job losses Quebec will suffer in this matter and the question of those jobs going to the Ontario financial sector, in Toronto, which unfortunately would happen—and I use "would happen" advisedly, because it is not a done deal and we will oppose it—despite the fact that small investors are currently well protected. We are not sure they would have the same degree of protection. We have serious doubts in this regard.