Mr. Speaker, the fact is that this voluntary action by the credit card companies will not change a thing. While the minister was pleading with Visa and MasterCard to lower their fees by 10%, payment processor Chase Paymentech sent letters to small businesses raising their processing fees by 10%.
One uncompetitive fee goes down, another one goes up, and Canadians keep paying the highest fees in the world. Why could the Conservatives not bring in common sense regulations that would actually make a difference for small businesses?