Mr. Speaker, since its inception 50 years ago, the Federal Business Development Bank has addressed the needs of Canada's small and medium sized businesses. This institution has continually adapted its operations to meet constantly changing political, social and economic climates. However, once again the time for significant change has come.
That is why the business leaders of London-Middlesex are applauding the business development bank of Canada act which was recently tabled. The proposed act would not only allow the present bank to change its name, it would also allow it to evolve and to expand its programs and services to meet today's requirements.
At present, we must adapt to the realities of the new global economy, an economy which in large part sees entrepreneurs along with small and medium sized businesses charged with the responsibility of promoting economic growth and job creation.
I believe that this initiative demonstrates yet again our government's commitment to the people of Canada. I look forward to its implementation.