Mr. Speaker, although the Minister of Finance has forecast a $7.3 billion drop in the deficit for 1996-97, if we take a good look at his figures, we see that the cuts in transfer payments to the provinces are responsible for at least 25 per cent of this reduction, and that the minister is using the surplus in the employment insurance fund, which, in itself, is responsible for 70 per cent of this deficit reduction.
My question to the Minister of Finance is this: Will he admit that 95 per cent of his deficit reduction is financed by the employment insurance fund and cuts in transfer payments to the provinces?