Thank you, Mr. Chairman. I guess the approach taken is that competition is the hallmark of a free market economy. These businesses that apply for loans pay a higher rate than what the banks offer. Generally, the expectation is that whether you are successful or not will be based on the service you provide and the quality of product you sell. That is the basis.

If the desire is there to prevent any loans to any other than existing businesses, then the BCC is governed by an act from this Legislative Assembly and that could be changed, or else it could be done through policy change. The approach up until now has been that competition is in the best interests of the consumer. Thank you.