Mr. Hugh Hanrahan (Edmonton-Strathcona, Ref.)
Mr. Speaker, greed is different from wealth and different from profit. Profit is gained. Greed is a longing for wealth. It is not an acceptable attribute, even in a capitalistic, free enterprise, often profit driven society. Auto leasing has become a core business for a majority of automobile dealers.
Bank entry into this market could therefore jeopardize the viability of the whole industry which could also adversely affect thousands of Canadian jobs. In particular, where banks are the main provider of credit to automobile dealers, the government must avoid creating an unfair marketplace and an environment in which credit deprivation by the banks would be possible.
How convenient to be both the supplier and the competitor to the automobile dealers of Canada.
Subtopic: Auto Leasing