Mr. Speaker, I am pleased to rise on this particular issue. I have to indicate that there are concerns out there with regard to issues of transparency and accountability, and certainly our party is all for that.
We also have to be careful that we are not coming up with a cure which is worse than the supposed problem here, particularly for women candidates and the issue of accessing money. We want to ensure that all candidates have the ability to run, to be able to finance a political campaign, and to do it in a manner which of course demonstrates both transparency and accountability.
Currently, it says all donations over $100 must be on the website. Now we will have to declare any contribution over $20 under the new legislation. People will know who has given. I think my colleague from Yukon was very clear with regard to what was happening in the United States with members of Congress. In a two year period they must raise millions of dollars in order to finance a campaign. There are no limits. They go out and raise money. Half of their two year term is simply going on the banquet circuit and dealing with lobbyists.
We do not have those problems. In fact, in this country we have very strict limits in terms of the amount of money that can be spent in any particular riding. I think that is what makes Canada unique.
When we talk with American congressmen and tell them that our limit is $75,000, they say to us, “That's not too bad for one day”. We tell them that is over a 35-day or 40-day period for a campaign and they are absolutely shocked. They ask us what we do with $75,000.
The problem with this bill is that it is a bit of overkill. What we are trying to say is that we want to make sure that moneys are available if candidates need it. In particular, we have seen cases where this particular amendment in this bill would cause a problem for women candidates borrowing money.
I think the issue is that everyone in the House believes in the accountability aspect. The question is that we also want to make it available for people who wish to run. Not everyone is wealthy and that again is another very good thing. Sometimes people do not have all the money in the bank when they decide to run. I think any kind of a restriction which would reduce that could be a problem.
At the moment, we know that Elections Canada is very clear about the reporting of loans for campaigns. We know that a riding association may loan money to the candidate in that riding. Again, this is all declared. It is all very clear. I think that is important.
The Liberal Party of Canada, during the leadership race, went beyond what was required in terms of the candidates being able to declare information.
If the goal of the bill is to achieve more accountability, then it fails in that regard. It builds new roadblocks in terms of people wanting to access the political arena, those people who want to run in an election. We want to encourage people, regardless of their financial background, to be able to run for election in this country. I think it is important that we do not have a House of Commons that only attracts those with money.
On both sides of the House we know, from time to time, how difficult it is when we are running a campaign and initial up front costs. They may be up front for signs, brochures, a campaign office, et cetera.
Obviously, some candidates do not have all that money at the beginning and they have to borrow. Then they have to wait for money to come in during the campaign. Again, I think that we have to try to have a balance in terms of what we are looking for in terms of this situation. Loans are an important part of this as is the declaration of those loans under Elections Canada and this legislation.
It is also important to keep in mind that there is a challenge now to try and secure money. Securing a loan from banks and financial institutions is important. Under these rules it would make it almost virtually impossible for candidates to go to a financial institution to secure the loan that they may need. If that were the case, then we are saying that they would be better off not running for office because they cannot get access to money.
We already have an open and transparent system in this country compared to that of the United States and others. Even under the old rules, before Bill C-24, we had to declare over $100 and it had to be accounted for. I think that shows how wonderful our system was. We had to declare it, there were limits on how much could be spent in a riding, the candidate's chief financial officer had to account for every penny, and statements were audited to make sure.
As members of Parliament, we know that if we do not declare donations, or if we are not able to account for every penny, we cannot take our seat in the House. That is important. We simply do not want that situation to occur. Obviously, financial institutions look at a person's ability to borrow money. This again would be a problem.
I think it is a bit misleading to suggest that the current state of the law regarding financial contributions to campaigns is a problem. In fact, I think it is probably tighter now than it has ever been. It is a bit misleading to suggest that loans are somehow made in secret. I do not see how they could be made in secret, because under the legislation, the Elections Act, if someone borrows money, that money has to be declared. The source has to be declared and the dates have to be declared.
I am sure there are members in the House who have borrowed money or had a line of credit from a bank. That has to be declared, as does the interest on it, et cetera, and that must all be paid. Again, I am not sure what the problem is. Every dollar and the lender have to be declared. We have to say whether the lender was an individual or an institution. That is already in the current legislation. All of it has to be declared. I am not sure what the problem is.
It is important that we have rules in place, but the suggestion in this legislation would restrict this even further. This would in turn disenfranchise people in regard to the ability to run. That is not what our system is about. Our system is about making sure that all candidates have equal access, and one of the sources of money they currently use is loans.
If a loan is not declared, there are consequences. There are stiff penalties. However, this legislation would make it even more restrictive, which I do not think Canadians want to see. They want to see transparency and accountability, but they do not want to see this becoming a rich person's game or, in other words, that in order to get into the House of Commons one has to be independently wealthy. I do not support that. I know our party does not support the change in this amendment.
I think it is important that we continue to say that we are different from other countries where raising money is certainly a preoccupation. As members of Parliament, my colleagues and I have more than enough to do in terms of dealing with the real issues of the day. If we have to go on the circuit of raising money and if we say that we are going to restrict loans to such a degree, I do not think it would be very productive. I am hopeful that members will keep this in mind when considering this amendment.
Again, I think we all want to see people from all backgrounds and all walks of life participating in the political process. We cannot tell them that if they do not have the dollars on hand then they cannot participate. That would not be good. It would be a roadblock to their participation. It would be a stumbling block. In fact, I think it would be a regressive move in terms of legislation.