Madam Speaker, there is nothing new in Bill C-69. It is merely an extension of the budget, so it continues to indulge the oil and gas sector and maintains this government's predatory federalism without any consideration for Quebec.
My colleague from Manicouagan said earlier that we will be voting against the budget. I want to emphasize that. We will be voting against Bill C-69 because the atmosphere in the House has been going downhill for some time. The Conservatives are trying to lump us in with the Liberals in a very populist way. I saw it again this morning on social media, where the member for Charlesbourg—Haute-Saint-Charles tried to associate us and the Liberals with pedophiles, telling people to call our constituency offices. I find this shocking, coming from a party that talks so much about law and order. Instead, we should be talking about law and order and bullying. That is the Conservative agenda, but we will let them play that game. My leader often says that no one should ever wrestle with a pig because they will both get dirty and the pig likes it. We will not be doing that.
I was talking about indulging the oil industry. There is nothing new here. With Bill C-69, Canada is behaving like a unitary state and confirming its role as an oil monarchy.
Before moving on to the truly problematic part, which is to say the power grab that is the consumer-driven banking act, I would simply like to point out that on more than one occasion, the Prime Minister has said that people do not care about jurisdictions. However, a Leger survey shows that 84% of Quebeckers want Ottawa to respect jurisdictions. Accordingly, the federal government is missing a wonderful opportunity to act with the banking act.
This legislation will federalize the entire financial sector and strip Quebec of its powers in this area. Rather than adopting a collaborative approach in Bill C-69, Ottawa wants to unilaterally lay down the rules that apply to banking services, an area of shared jurisdiction. As is the Liberal government's wont, it will give the big financial institutions in Toronto a significant leg up on their counterparts in Quebec, such as the caisse populaire. Under the proposal, the provinces will be excluded from consumer protection or privacy protection once the financial institutions interact with their clients through a technological platform.
To impose this framework, the federal government will need to act in three stages. It must determine the standard, task a federal agency with maintaining a registry of institutions conforming to this standard and designate a federal agency to serve as regulator, which involves verifying the compliance of the institutions on the registry. It is on this third point that there is a major issue jurisdictional interference. By acting in this manner, the federal government is interfering directly with civil law by regulating institutions coming under Quebec jurisdiction and by subjecting them to federal legislation.
This is evidence of what we have been seeing for a while now, namely the government's desire to behave like a unitary state, as though the federation did not exist, as though Quebec did not have its own powers. This is what we have seen with pharmacare. This is what we have seen with dental insurance. This is what we have seen with multiple instances of interference in Quebec's and the provinces' jurisdiction. It is Groundhog Day for interference.
The same is true of energy. I said right from the get-go that Canada is confirming its status as an oil monarchy. It is also confirming its very cozy relationship with the oil and gas sector. What do we see in Bill C‑69? We see yet another subsidy for the oil companies in the form of the infamous investment tax credit for so-called clean hydrogen.
As we know, the Minister of Energy and Natural Resources is no longer interested in talking about hydrogen colours. Previously, there was green hydrogen, made from hydroelectricity, grey hydrogen, made from gas, and another one between the two, called blue hydrogen. The latter is made from gas, but it comes with carbon capture and storage strategies that are as yet unproven. The Minister of Energy and Natural Resources prefers not to talk in these terms anymore.
In Bill C-69, we again see a tailor-made program that would allot tax credits between 15% and 40% for hydrogen production. It is no secret that this is mainly for the gas sector. I went to Berlin with the Minister of Energy and Natural Resources and we took part in a meeting with Siemens, a major corporation that told us that the idea of producing green hydrogen from gas was destined to fail. The Siemens people said that the state would need to take on risk, the risk of higher prices. As we are seeing with Bill C‑69, the state will have to heavily subsidize the rollout of gas-produced hydrogen. There is also, however, a technological risk, according to Siemens, because the technology needed for this venture is not ready, and it will again take a massive infusion of public money to get there—