Mr. Speaker, I do support open banking. I think that is really important. For folks watching at home who may not be familiar with the term, open banking just means that one should own one's financial data.
When one is banking with an institution, it should not be able to say that one cannot take this information and share it with another institution. That is one's information. It is one's finances. It is one's money. If one wants another institution to know the facts about one's account, the current financial institution that one banks with should have an obligation to share that without a bunch of silly business or putting up walls or making it difficult for one to shop around and get a better price.
As I say, we believe that there is not enough competition in the financial sector today and that Canadian consumers are paying a serious price for that. That needs to change. That is why we oppose the HSBC-RBC merger. It is why we support open banking.