Mr. Speaker, we are hearing that small businesses and consumers are being crippled by credit card fees. When it comes to interchange fees, we are paying some of the highest interchange fees in the world. In fact, the Liberals have committed to moving credit card companies to a voluntary rate of 1.4%, whereas Europe legislated a cap of 0.3% and Australia, 0.5%.
In the 42nd Parliament, Bill C-236 was tabled by a former Liberal member of Parliament, Linda Lapointe. She moved that bill 16 times before she dropped it off of the Order Paper. Now the Liberals say they are not in bed with the big banks and the credit card companies, but she abandoned her promise to the Quebec convenience store association and the retail association of Canada by not taking action.
These credit card companies are making record profits in the middle of COVID. They are not doing their part. We are not all in this together. When is the government going to legislate a cap on interchange fees similar to what Europe and Australia have done instead of putting that on the backs of small businesses and consumers right now in this crisis? It is time for these companies to pay their fair share and it is time for the Liberals to step up to the plate.