SummarySpren for "HSBC Bank Canada"
- • The Canadian housing market is in the worst crisis in history, with rent and mortgages having doubled in the past eight years, and the amount needed for a down payment having doubled.
• The approval of the RBC-HSBC merger will lead to higher prices, less service, lower wages, greater wealth inequality, and lower productivity and innovation, and will further concentrate the banking industry in the hands of a few, hurting consumers and creating monopolies.
- • Mr. Ryan Williams (Conservative-Federal) hopes to increase competitors and stop mergers to address the issue.
• He highlights three mergers that could have been stopped: RBC and HSBC, Rogers and Shaw, and WestJet and Sunwing.
- • The current time is 7:25 p.m.
• All questions necessary to dispose of the motion are deemed put and recorded divisions are deemed requested.