Mr. Speaker, on January 4, 2006 the Prime Minister wrote Premier Danny Williams promising to remove non-renewable natural resources revenue from the equalization formula.
The Prime Minister also sent Newfoundlanders and Labradorians a brochure promising 100% of oil and gas revenues. He promised no small print, no excuses, but most importantly, he promised no cap.
Regrettably, budget 2007 tells a very different story. Why did the Prime Minister lie? Why this betrayal?