That is absolutely true. That is the largest tax cut of any of the G-7 countries. The contention is made that there is no real tax relief.
Take the increase in CPP premiums. We do not agree that is a tax increase. Even if that were subtracted from the $17 billion, it would still be the largest tax cut among G-7 countries because we were way ahead. The $17 billion dwarfs the $2 billion or $3 billion increase in the CPP premiums.
Whichever way it is skimmed, even if it is taken the worst way, from a Liberal point of view we have the biggest tax cut among G-7 countries.
On the point about EI, the $40 billion is not there. As the finance minister said today, since 1986 the auditor general has said we should put that into general revenue. What have we done with it? Part of it, $6.8 billion, is lower EI premiums, but that has also gone into things like $100 billion in lower taxes, $23 billion in health care, just the things that Canadians want and Canadians have set their highest priorities on.
There is no point asking about where is the $40 billion accumulated surplus because it does not exist, except on paper. I think it is time the opposition learned that simple fact.