Madam Speaker, as the member indicated in his previous question, the legislation would improve the process of foreign acquisitions by banks.
In addition, this legislation would update financial institutions legislation, would fine-tune consumer protection and would improve efficiency by reducing the administrative burden. As a package, in addition to the function the member mentioned, this is a first-class package to keep Canada's banking system competitive and continue to attract jobs, like the more than 610,000 jobs, as we mentioned, in Canada.