Financial System Review Act

Elizabeth May: Madam Speaker, I hate to trespass into partisan debates between the Conservatives and the Liberals, but on the banking sector, in fairness, we are very fortunate that Paul Martin turned down the banks when they wanted to go global. It is just a historical reality.


This legislation is encouraging. It is good to see a government that is willing, although it tends to be very anti-regulation, to say that more regulations are needed, particularly over the Canadian banking sector going into more foreign territories.

Could the hon. parliamentary secretary expand on whether there could be more robust consumer protections still added to the legislation when it goes to committee?

Shelly Glover: Madam Speaker, I welcome my colleague back to the House following the Christmas break.

Consumer protection is part of the platform within the bill and we look continually to ensure that consumers are protected. As we move forward with the bill through the House and through committee, we will be open to listening to all suggestions. We will take those suggestions into consideration and will essentially come forward with a bill that will protect the interests of consumers.

This is a good start, but, again, we will continue to evaluate as we move forward. There will continually be a review every five years. This government is committed to ensuring that we look at these things in the future to prevent anything that might be coming up the pipes that could negatively affect Canadians.

If the member has any particular suggestions, I would be happy to listen to those and pass them on.