Mr. Speaker, I have often risen in the House to speak about the infamous bank fees, a very important issue throughout Canada. Canadians all agree that we pay too much in bank fees.

Major banks are raking in huge profits, particularly as a result of an increase in bank fees. In 2013 alone, Canada's six major banks made more than $30 billion in net profit.

During that time, Canadian household debt reached an all-time high. In fact, approximately 60% of Canadians are forced to live paycheque to paycheque. They are told to save, but that is difficult to do when you have trouble making ends meet.

Going back a little further, in 1980 the ratio of household debt to personal disposable income was 66%. Today, it is 164%. That is the situation we find ourselves in. The Governor of the Bank of Canada, Stephen Poloz, has said that household debt is a major risk factor for the Canadian economy. Credit card interest rates can be as high as 18.9% for cards issued by financial institutions and 25% to 28.8% for cards issued by department stores and gas companies. That is huge and unfair.

The NDP is proposing that consumers be given reasonable access to credit cards at prime plus 5%. That is a worthwhile measure. No one should have to pay $2, $3, $4 or $6 to have access to their own money. Every year, Canadians pay $420 million in ATM fees, which unfairly inflate banks' profits.

The NDP is not opposed to banks making a profit. However, it is the government's duty to provide a framework to ensure that those profits are not overly excessive and that they are not earned on the backs of poor Canadian taxpayers who are already paying enough. We are proposing limiting the fee for an ATM withdrawal to 50¢, which is still double what that type of transaction costs banks. That is a really worthwhile solution proposed by the NDP.

I also introduced a variety of bills. Recently, this government adopted the NDP's motion on pay-to-pay fees. However, although the government adopted that motion, it refused to give it the strength required. It refused to implement the motion by incorporating it into the most recent budget. That is unfortunate, because although Canadians no longer have to pay the infamous $2 to get a paper invoice from telecommunications companies, for example, they will still have to pay at the banks. Once again, this Conservative government is unable to set a limit on banks. Enough is enough. We are not that stupid. We are going to set limits on banks because it is important.

I also introduced a bill on the Competition Bureau because it is not fair that banks make huge profits on the backs of Canadian families and that nothing is being done about gas price collusion. The government continues to offer billions of dollars in subsidies to the oil industry.

The NDP is proposing concrete solutions, and we will do so by enforcing the provisions of the Criminal Code and the Competition Act, which the current government chooses to ignore. Canadians expect to pay a fair price at the pump. That is why I introduced a bill that provides for the appointment of the director of the competition prosecution service.

What do the Conservatives have to say about that?

Annick Papillon