Mr. Speaker, co-operatives are businesses that are driven by democratic values and principles. They employ over 155,000 Canadians. They pay taxes on more than $50 billion in revenues, and they create jobs and offer goods and services in all regions.
The difference between the co-operative model and other business models is how the profits are used and that their focus is on long-term strategic planning, growth, and success. Co-operatives are more durable, and research has shown that new co-operatives are more likely to remain in business than any other new enterprises and are more resilient in economic downturns.
I am proud to be a supporter of the Canadian co-operatives industry, and I look forward to working with them to create even more jobs in our communities.