Equalization lost all meaning when the envelope was closed. If the gaps in wealth were to decrease in Canada, there would be no problem for equalization to be reduced. But the gaps in wealth are increasing, while equalization is not. This occurs because when calculating equalization—I know that we discussed the complexity of this calculation earlier on, but I will not get into the complexity of it—the 10-province standard must be used for comparison purposes.
On October 25th, 2006. See this statement in context.