Mr.Chair, sometimes a bank will relocate its most profitable activities carried out in Canada and register them in a subsidiary in the Bahamas, Barbados or another tax haven. Does the Prime Minister consider this bank to be paying its fair share of taxes in Canada?
Mr.Chair, we will assess applications for the large employer emergency funding facility on a case-by-case basis. We don't expect the big banks to need these funds. Before we provide any money, we're going to make sure that whoever wants to access these funds is transparent about how the money is being managed, including internationally.
Mr.Chair, I'll change the subject now. Consumers are paying more and more with their credit cards, which allows contactless payments in shops, not to mention online shopping. This benefits Visa and Mastercard, which charge appallingly high user fees, known as interchange fees. These are almost 10times higher than in Europe and Australia, and it costs our merchants a fortune. Can the Prime Minister follow the example of Europe and Australia by capping interchange fees at0.3%?
Mr.Chair, we are always looking for ways to reduce costs for consumers. We have worked with the big banks and the financial industry to ensure that people who need it have access to the help they need. We're reassessing how we can lower costs for consumers. Right now, we're sending money to consumers across the country who need it to get through this crisis. That's what we'll continue to focus on.