Hon. Lucie Moncion: Welcome to the Senate, minister.

In your mandate letter, the Prime Minister asks you to do the following:

 . . . continue to implement the Rural Economic Development Strategy to build on existing investments . . . and identify improvements that could be made to programs, policies and future investments to benefit rural communities.

We know that financial cooperatives are generally the last to be consulted when it comes to program and policy development. I am thinking in particular of the Canada Emergency Business Account, or CEBA, during COVID-19. The government eventually made members of these institutions eligible, but they had to work hard to make themselves heard.

Nevertheless, these financial institutions represent nearly one quarter, or 21%, of the Canadian SME market share. Their belated inclusion in critical discussions is hampering rural economic development.

In keeping with the spirit of the objectives set out in your mandate letter, can you tell us how your government intends to consult financial cooperatives systematically rather than belatedly?

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