QUESTION PERIOD — Finance
Credit Card Fees for Small Businesses
October 22, 2024
Senator Gold, I quote:
When you buy something from a coffee shop or local grocer, you want your money going right to the business owner.
We made a deal with Visa and Mastercard — and now, small businesses will save up to 27% more on their credit card fees.
That’s a social media post yesterday from your leader, Justin Trudeau, at the start of Small Business Week, quite the turnaround from the guy who called small business owners a bunch of cheats.
The problem with the post is that Mr. Trudeau knows full well that one of the largest payment processing companies, Stripe, has said that it will not be passing those savings along to those small businesses. Who sits on the board of Stripe? Oh, look, lo and behold, it’s Justin Trudeau’s de facto finance minister Mark Carney, colleagues.
Senator Gold, how can your leader post something like that with a straight face knowing damn well that those savings aren’t being passed along but are actually going right into the pockets of Mark Carney?
“Wow” is correct, but for different reasons, dear colleague.
The progress that has been made with major credit card companies is something that should justly be celebrated. Indeed, Canadians need the assistance, as do those who do their business as small businesses through Visa. That others have not followed suit is regrettable, and I’m hoping that they will indeed follow suit.
Senator Gold, “Carbon Tax Carney” finally announced that he will be running for elected office. Interesting timing given the uncertainty surrounding the future of Justin Trudeau as Prime Minister and as leader. The truth is Mr. Carney has been lurking around this government for quite some time in one fashion or another.
My question is simple: Was Mr. Carney an adviser on the scheme regarding the credit card fees that his company is now pocketing? Was it maybe even his idea? Whose scheme was this?
I have no information about that, but again, Mark Carney has served this country, and others, admirably. To your question, I am not in possession of any information regarding it.
