Mr. Speaker, the member made a fine speech on the budget implementation bill. Canada's chartered banks last year made a profit of $15.9 billion. This is in a recession when people are suffering. They made $15.9 billion and the government obviously does not think that is enough because it is lowering the corporate tax rate.
Let me say what the bank presidents earned last year. The Bank of Nova Scotia CEO was paid $9.7 million. The Bank of Montreal president was paid $7.45 million. The CIBC president was paid $6.6 million and the top earners of $10.4 million were the presidents of RBC and TD Bank.
The G7 and the G20 have come up with corporate compensation guidelines and the government is dragging its feet as far as adopting those guidelines. I would like to ask the member whether he thinks it is high time that the government should follow the guidelines of the G7 and the G20, and implement them to put some kind of controls or curbs on corporate pay in this country?