Mr. Speaker, I am very pleased to rise today in the House to support the NDP motion by the member for Sudbury, which proposes a measure that will make life more affordable.
I would like to start with an anecdote. About thirty years ago, in the 1980s, the job market and the economy were somewhat precarious. However, my mother and father had taught me that debts had to be repaid, which was done by cheque at that time. I was always very careful when I wrote a cheque. I always made sure that there was money in my bank account.
Near the end of the month, one of my cheques bounced, as they say. I could not understand why because I knew that there was money in my account. I bounced over to the bank where a woman simply told me that administrative fees were debited every month. If my memory serves me well, the fees were $12 a month. Then the woman told me that if I had $1,000 in my bank account, I would not be charged administrative fees. So I told her that if I had $1,000 in my bank account, I would have no problem paying the administrative fees. That is the banks' logic. However, I understand that we have to pay for services.
Some 30 years ago, I went through periods of financial difficulty. In 2012, a large portion of the population went through the same thing, and the situation is not getting any better. A few years ago we had the Occupy movement: Occupy Wall Street, Occupy Montreal, Occupy Toronto and Occupy Vancouver. This is an excellent example of the 1%. It is worth repeating that since 2007, the profits made by the six biggest banks in Canada have risen from $19.1 billion to $28.1 billion, an increase of over $10 billion.
In many respects, Canadians are tired of paying to pay or to access their own money. Furthermore, I am not just talking about the economic situation of the 1% and the profits the banks are raking in. I am also talking about the 99%. I am talking about people whose economic situation is becoming more and more precarious. I would remind the House that the debt load is currently 166%.
The Conservative members say that they have made sure that people understand the financial situation better and that fees are not hidden. These are all good measures for financial literacy. However, the fact remains that the average Canadian debt load right now is 166%. Canada has been lucky, because the gap between rich and poor was not that big.
However, the OECD criticized the fact that the gap between rich and poor in Canada is growing and is increasing more quickly here than in other OECD countries. That has been the case for the past 10 years, and it is extremely disconcerting.
There have been announcements about factories closing and well-paying jobs being lost. They are not always connected. Last May, 9.7% of people worked in the manufacturing sector. Earlier in the decade, in 2003, that number was 15%. I am using the example of the manufacturing sector because the sector had stable jobs that paid very well, and it still does. At first, we lost a large part of our manufacturing sector to China, for example, because production was moved there. More and more, production is being moved to the United States. In addition, a number of Canadian companies have been bought by foreign investors. We are not opposed to foreign investment, but when an increasing number of Canadian companies are bought by foreign investors, the sector and, in turn, a large part of our economy become weaker.
Statistics show that well-paying jobs have been lost. The manufacturing sector has lost scores of jobs and plenty of ground in the past decade.
However, when we look at the picture that Statistics Canada paints of the workforce, we can see what has replaced those manufacturing and public sector jobs. Quite often, they have been replaced by more precarious part-time positions in the retail sector. Far be it from me to say that those jobs are not gratifying. I have worked in retail, and I must say that it is demanding work that requires versatility in dealing with the public and providing customer service. Those are very important jobs, but this sector is the largest in Canada right now.
That means that some jobs may not pay as well or that they are more precarious because they depend on the current economic climate. Families who move from sector to sector have unstable income.
In my riding of LaSalle—Émard, a large segment of the population lives under what is known as the low-income cutoff. Forty per cent represents a lot of people who find it difficult to make ends meet, experience financial difficulties and have fewer and fewer options, such as choices about credit or ATM fees, and so on.
As the critic for co-operatives, I would like to point out the lack of choice that we talked about. That is often a fact of life in the regions.
The banks have abandoned the regions. Fortunately, there are more than 2,000 credit unions in various communities. Over 1,100 of those constitute the only financial service available in their communities. I am very pleased that they are there.
I would also like to acknowledge the excellent work done by the Association coopérative d'économie familiale, which helps put people on a solid financial footing.