Paul Martin

[The Economy, September 28th, 2001]

Mr. Speaker, first, last week, the Governor of the Bank of Canada lowered interest rates by 50 basis points. This is a very substantial reduction that will certainly help our economy throughout the country.

At the same time, the government has taken measures, including the infrastructure program and amendments and improvements to the employment insurance program, to help Canada's unemployed and those who do need help at this time.

[Canada-Costa Rica Free Trade Agreement Implementation Act, September 28th, 2001]

moved that Bill C-32, an act to implement the Free Trade Agreement between the Government of Canada and the Government of the Republic of Costa Rica, be read the second time and referred to a committee.

[Canadian Banks, September 27th, 2001]

Mr. Speaker, we have asked Canadian banks to co-operate fully. They have issued a release in which they have said that they have fully implemented the process. I can tell the member that as far as Canadian banks are concerned, there is 100% co-operation.

I spoke with my counterparts in other countries, including U.S. Treasury Secretary O'Neill, and I can say that Canada is certainly in the forefront. We are setting the course in many countries because now is the time for international co-operation and Canada will lead the way.

[The Economy, September 27th, 2001]

Mr. Speaker, we are dealing with a global downturn in the United States, France, Japan, and in Canada. We acted before the United States, Europe and certainly before the other countries involved.

That is why our tax cuts are so important. That is why lower interest rates are so important.

If we look at the sectors where other countries are taking action, such as in transportation, we have acted, and we intend to continue to act, while my colleague wrings his hands.

[The Economy, September 27th, 2001]

Mr. Speaker, if the member had read the Governor of the Bank of Canada's statement, if he had read the statements by Mr. Greenspan and by all those who are truly responsible for monetary policy, he would have seen that Canada's philosophy or policy of keeping interest rates down is critical.

It is the best thing we can do to help the economy, which depends entirely upon the financial integrity of the country. For this reason, we will continue following our plan, because that is what has given us the financial integrity that we need.

[Terrorism, September 27th, 2001]

Mr. Speaker, the legislation provides for the freezing of those assets and that has been done.

[Terrorism, September 27th, 2001]

Mr. Speaker, I have already answered that question. The action was taken immediately forthwith upon the president presenting the list and us receiving that particular information.

As far as the quality of the answer, the fact is that I am not in a position to stand here and give detailed information on bank accounts. That is a matter between the RCMP and the banks.

[Terrorism, September 27th, 2001]

Mr. Speaker, the list of 27 that was presented by President Bush has been transmitted to the banks. If any such assets exist, they have been frozen. As to the other questions, the member will have to ask either the RCMP or the banks themselves.

[The Economy, September 27th, 2001]

It is not working because of the Bloc and the PQ. But we are going to do it.

[The Economy, September 27th, 2001]

Mr. Speaker, once again, in connection with the employment insurance program, the government has made some fundamental changes which will help the workers of Quebec.

As for the infrastructure program, let the hon. member tell the PQ that it will have to do business with us, as we are going to implement the infrastructure program.