Mr. Speaker, the reason that credit unions and caisse populaires were given a tax break was to create a level playing field by facilitating their capitalization. They provide competition for Canada's big banks and often are the only financial institutions available to people in small town Canada, where too often bank branches do not exist.
In January, the Conservatives said they understood that capitalization is a significant issue for co-op businesses. Why was there a change two months later? Why neglect small town Canada? Why are the Conservatives turning their backs on credit unions and caisse populaires? Why increase their tax rate by 36%? Why kill the level playing field?