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FINA Committee Report

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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.

A copy of the relevant Minutes of Proceedings (Meeting No. 110) is tabled.