Mr. Speaker, the sudden and unexpected elimination of the immigrant investor program for business assistance puts venture capital in Quebec at risk. The Government of Quebec ensures that almost 50% of the money collected through the program goes to small and medium-sized businesses that are promising but vulnerable. This is clearly another measure that could have a significant impact on a major economic lever. I am referring to venture capital in Quebec after the tax credit for labour-sponsored venture capital funds is eliminated.
I would like the minister to tell me who was consulted on this proposed reform. Did he at least consult the Government of Quebec? How will the elimination of the program affect Quebec? Also, what are the details of the new pilot project that will replace it?