Mr. Speaker, I am really surprised by the government's priorities. It is closing down prison farms and pushing the Canada-Colombia free trade deal. Now its next big topic is a centralized national securities regulator, which by the way, it has to refer to the Supreme Court before moving it forward. As the member pointed out, it has spent $300 million already on something that may be largely unnecessary.
This matter is not only about Quebec. The province of Manitoba for at least the last 10 years, maybe more, has definitely been looking at this issue and is definitely opposed to it. The province of Alberta is very concerned about what will happen to its financial services sector as a result of this. My question would be where B.C. is in all of this. Why is B.C. not interested in questioning this whole idea? Why is it only Quebec, Alberta, and Manitoba at this point?
Fundamentally, it is not necessarily the structures that count; it is the people running the structures. The different regulators in the United States and Canada have all been asleep at the switch. They tend to hire people from the very industries they are there to regulate. That is not the way we should be setting up our securities commissions.