Mr. Barry Moore (Pontiac-Gatineau-Labelle):
Madam Speaker, this year the federal government is highlighting the importance of consumer credit during National Consumer Week in order that consumers can act with full knowledge when they use the credit options that are available to them.
It seems clear that marketplace conditions affecting the use of credit have undergone fundamental changes and that these conditions are likely to persist.
For example, while some types of consumer debts have declined from their recent peak level the use of consumer credit is still more common than it was a decade ago. Another change involves the misuse of credit, particularly credit cards.
To address this the Minister of Consumer and Corporate Affairs is communicating his concerns to the provinces and to credit grantors and asking them to provide their ideas on how problems of excessive indebtedness can be prevented and how the importance of the wise use of credit can be communicated effectively to consumers.
In addition to co-operative action with provincial governments and credit grantors, the Department of Consumer and Corporate Affairs will continue to make information on the wise use of credit available. This will help consumers better understand how to manage their credit responsibilities.
Subtopic: CONSUMER CREDIT