Mr. Speaker, when confronted with the fact that our credit card payment regime is perverse and subverts market forces, the Minister of Finance pointed to the toothless voluntary code of conduct.
As it stands now, the voluntary code is doing nothing to protect merchants and consumers from paying some of the highest fees in the world, a whopping $5 billion in hidden fees alone.
Will the minister finally admit that the voluntary code is not working, pledge today to do what other G20 countries have done and implement binding regulations to end these infuriating fees?