Mr. Speaker, when you are $500 billion in debt, you have a serious problem. That is what the Minister of Finance said yesterday, and we are taking steps to remedy the situation by reducing the annual deficit. The objective we clearly stated in our campaign platform was to bring the deficit down to 3 per cent of GDP after three years. We will do what it takes to get there.
In the House of Commons on October 18th, 1994. See this statement in context.