Hon. Tom Hockin (Minister for Science and Minister of State (Small Businesses and Tourism)):

Madam Speaker, what a fine question that is.

It is relevant because she knows that 85 per cent of all new jobs created in Canada have been created by small business. It is the engine of the economy.

I want to tell her what happened last week. I met with the banks to ask them what they were doing to promote the Small Businesses Loans Act. They indicate that all their branches are fully trained now. They have their brochures out. The Government of Canada will have a stuffer in its national revenue mailings.

More important than that, in April registrations under the act were up 47 per cent over the previous year. In May they were up 88 per cent over the previous year. The banks now predict they are going to do over $1 billion more business under the SBLA this year than they did last year.

Oral Questions

This program is working extremely well. It is a strategic and effective way to stimulate the economy through the small business sector.

Hon. Tom Hockin (Minister for Science and Minister of State (Small Businesses and Tourism)):

Madam Speaker, the hon. member knows this money is part of the insurance proceeds which the federal government received as a result of this tragedy.

The money is in the Consolidated Revenue Fund. Members of this House can speak in Parliament and raise ideas about how the money should be spent.

The hon. member raises an interesting suggestion but he must know that responsibility for this should be shared broadly and not just by the federal government which did its bit by giving a loan to make the project which would create 200 or 300 jobs in Pictou county possible.

Mr. Hockin:

No.

Hon. Tom Hockin (Minister for Science and Minister of State (Small Business and Tourism)):

Mr. Speaker, an agreement could .not be reached under the provisions of Standing Order 78(1) or (2) with respect to report stage and third reading of Bill C-62, an act respecting telecommunications.

Therefore, under the provisions of Standing Order 78(3), I wish to give notice of my intention to move a time allocation motion at the next sitting of the House for the purpose of allocating a specified number of days or hours for the consideration and disposal of proceedings at the said stages.

Hon. Tom Hockin (for the Minister of Industry, Science and Technology) moved

that the bill be concurred in.