That's a good question. I think in our brief we did point out that the level of federal debt is actually in excess of the level of provincial debt, and that's why we still think there has to be a keen focus on paying down the federal debt. The federal debt, per person, is in the neighbourhood of about $15,500 per Canadian, but the aggregate level of provincial debt is around the level of about $10,000 per Canadian. So the level of the actual federal debt is still very high and needs to be a key focus.
On September 25th, 2006. See this statement in context.