Glenn Thibeault

[December 2nd, 2008]

Mr. Speaker, I rise this evening to address an extremely relevant issue for Canadians these days, the lack of support for Canadian families in the economic statement of the Conservatives. Credit card companies are gouging consumers and the government does not want to act to change that.

In these tough economic times, more and more Canadian families are feeling the effects in their bank accounts. More and more families are relying on credit cards to pay for day-to-day needs such as rent and groceries. With the holidays quickly approaching, it is completely heartless that families already experiencing record debt levels are faced with another 5% credit card interest rate increase. Yes, an additional 5%, bringing the astounding interest rate many families will have to pay to close to 25%.

Something needs to be done to protect consumers from what is very clearly a cash grab on the part of credit card companies. Credit card companies should not have the ability to gouge consumers and take advantage of the current economic situation for their own profitable gains. Considering the dire circumstances faced by the majority of Canadians, the government’s response to my question was to stop using these cards, or as the Minister of Finance indicated, shop around.

These are not solutions to a problem, but rather a government that sloughs off struggling Canadian families and ensures their friends, the big banks and big oil companies, make record profits. No wonder the government has lost the support of the House. It has also lost the support of Canadian people.

Just a few hours ago, I had the opportunity to meet with the Canadian Independent Petroleum Marketers Association. They spoke to me about how many of these family-owned gas stations, with many of these operations in my riding of Sudbury and throughout northern Ontario, were having to give more and more of a percentage of their credit card earnings to the banks. It is not just a family issue. It affects small businesses as well. Ultimately, business owners will ensure that those increased costs are put to the consumer. Who gets hit again? Consumers. Consumers will feel the brunt of these increasing costs.

While the costs of merchant transactions remain the same, credit card companies are charging more, up to 10,000% more in some cases to merchants. Small businesses need limits. Currently, our country has no framework in place to protect consumers or small businesses from the greed of credit card companies.

As I asked last week, Canadians were told that while the banks could count on the government’s help, consumers were on their own. That was obvious in last Thursday’s economic statement. The government does not get it. At a time when consumers and businesses are hurting, it is more interested in political games rather than acting on behalf of Canadians. When will the government acknowledge it did the wrong thing by not supporting Canadian families and small independent businesses in its economic statement?

[Resumption of Debate on Address in Reply, November 27th, 2008]

Madam Speaker, congratulations to the hon. member on his re-election.

I have heard a lot of talk about the expansion in the north and military spending along those lines, but the government cannot find the money to build one school for the children of Attawapiskat. I am wondering if the hon. member could explain that, please.

[Finance, November 26th, 2008]

Mr. Speaker, the Canadian Federation of Independent Business fears big banks will move merchant fees for credit card transactions to an unfair percentage system. This means that independent businesses could be looking at increases on fees of up to 10,000%, much of which will get passed on to the consumer.

Another hike on interest for credit cardholders and new fees for small business all add up to the lowest consumer confidence in 20 years.

When will the government recognize it has a responsibility during tough economic times to protect consumers not just banks?

[Finance, November 25th, 2008]

Mr. Speaker, yesterday, the parliamentary secretary told Canadians that while the banks can count on the government's help, consumers are on their own.

The government does not get it. At a time when consumers and the businesses they shop at are hurting, bank profits are up. The Bank of Montreal just announced today that profits in the latest quarter are up 24%.

Does the minister believe this to be a good time for the banks to be ripping off consumers? If he does not, will he do a better job this time than he did on ATM fees?

[Finance, November 25th, 2008]

Mr. Speaker, the troubling economic times are leading to harsh choices for everyday consumers. In most of Canada, consumer confidence is dropping.

However, just in time for the holiday season, credit cardholders will get hit with a punishing 5% interest rate hike. In these hard times, consumers need a helping hand up, not a slap in the face from the banks.

Does the finance minister think this latest attempt to gouge average consumers is acceptable? If not, what is he prepared to do about it?

[Foreign Credentials, November 25th, 2008]

Mr. Speaker, this past weekend, I had the honour of attending the 45th anniversary gala celebration for the Sudbury Multicultural & Folk Arts Association. This event was well attended by many local residents who make up the cultural mosaic that is my great riding of Sudbury. Individuals like Dr. Rayudu Koka, Miho Halmich and Niranjin Mishra demonstrate the valuable work that is accomplished when people from different cultures and heritage work together.

It became very clear, as I met and spoke with a number of people, that there is a great deal of concern in our community about our current government’s immigration policies.

With that being said, I urge the government to accelerate and streamline the recognition of foreign credentials to ensure that many skilled immigrants like doctors, respiratory therapists and even electricians are able to work in their fields of training and rectify the skilled worker shortage we have in many of these sectors.

[Resumption of Debate on Address in Reply, November 25th, 2008]

Mr. Speaker, I congratulate the hon. member on his election to the House of Commons.

I am very pleased to be here representing the great riding of Sudbury, and many know that Sudbury is the mining capital of Canada. This mining capital has been creating much wealth for our country. This wealth will only be enhanced with investments in research and technology.

As critic for science and technology, does the hon. member see the importance of more research in mining and the importance of the federal government funding the Centre for Excellence in Mining Innovation in Sudbury?

[Finance, November 24th, 2008]

Mr. Speaker, Canadian consumers need action, not platitudes.

Even before this latest ripoff, the prime rate had plummeted, yet ordinary consumers are getting no breaks on their credit cards. We have had enough of consumers being gouged. That is the same government that failed on ATM fees. Does it not realize it is the government that regulates the banks, not the banks that regulate the government?

Will the minister finally step in and make it clear that consumers must be put first in these difficult times?

[Finance, November 24th, 2008]

Mr. Speaker, as the economy continues to spiral downward, more and more Canadians are turning to credit cards even to pay for day to day fundamentals. Millions of credit card holders are alarmed to learn that in a few days banks are going to slap on an automatic 5% increase on interest rates. This is on top of the already punishing interest rates of over 20%.

When will the government step in and protect hard-working Canadians from getting further gouged on credit cards during this time of economic crisis?

[Resumption of debate on Address in Reply, November 20th, 2008]

Mr. Speaker, it was time for an election because the Canadian people obviously expressed some change that was needed. The need for that change was throughout northern Ontario because seven of us were now elected to represent northern Ontario. Therefore, yes, it was very much time for that election.