Mr. Speaker, I see the finance minister was dutifully applauded.
Last spring the Canadian Alliance predicted that the finance minister's out of control spending would lead us back into a deficit. Now we learn that is exactly what has happened, but he is trying to cover it up by cooking the books.
According to the TD Bank, the finance minister was only able to avoid showing a deficit by “fancy accounting footwork”. Both J. P. Morgan and Merryl Lynch say that a deficit is likely next year.
Why does he not just admit that without his creative accounting Canada would be headed back into a deficit?