Mr. Speaker, the parliamentary secretary, who spoke before, told us that this was not about protecting the public at all but more about compliance costs to companies. That is what the bottom line is with the government.
We have no shortage of companies operating in this country and they have been operating for 100 years. I know one could make the argument that in terms of filing a prospectus, it is probably administratively easier and quicker to get the prospectus approved by one jurisdiction rather than thirteen, which is a hard argument to go against, but the fact is that business will not leave the country. People will not stop filing prospectuses just because they need to go to a couple more jurisdictions. As a matter of fact there is a lot of similarities. It is not as if we need to completely rewrite the whole thing 13 time.
If businesses want to operate, they will continue to operate in the way they have been for the last 100 years. This is just a red herring on the part of the government trying to bamboozle us and scare us into saying that it will create all sorts of new jobs if we just have one regulator. We were into this before where if the regulator does not do a very aggressive job we will be no better off than we are right now.