Steve Pomeroy, Michael Bourque, Cam Guthrie and Daniel Dufort made statements and, with Shaun Cathcart, answered questions.

Jasraj Singh Hallan moved, — That the Standing Committee on Finance report the following to the House: given that;

(a) after eight years of Justin Trudeau the Competition Bureau of Canada finds Canada’s competitive intensity is in decline, a measure that was reflected in all indicators measure by the bureau;

(b) there already are very few financial institutions in the Canadian banking sector representing a lack of competition;

(c) removing competition in the financial sector could raise banking fees for Canadians who already pay more for financial services due to an already uncompetitive financial sector;

that the committee calls on the Minister of Finance to reject the merger of RBC and HSBC.

Debate arose thereon.

Rachel Bendayan moved, — That the debate on the motion be adjourned until the end of the meeting.

Debate arose thereon.

It was agreed, — That the debate on the motion of Jasraj Singh Hallan be scheduled to take place at the end of today’s meeting, provided that the committee comes to a vote on the motion before adjourning.

Questioning of the witnesses resumed.

Pursuant to the Order adopted earlier today, the committee proceeded to debate the motion of Jasraj Singh Hallan.

The debate continued on the motion of Jasraj Singh Hallan.

After debate, the question was put on the motion and it was agreed to on the following recorded division:

YEAS: Daniel Blaikie, Adam Chambers, Jasraj Singh Hallan, Philip Lawrence, Marty Morantz, Gabriel Ste-Marie — 6;

NAYS: — 0.