Mr. Speaker, on Wednesday, the President of the Treasury Board tabled in this House the federal government's regular Supplementary Estimates, which call for additional expenditures of $1.9 billion. They show that the Liberal government intends to spend $5.3 billion more than originally anticipated.
The Minister of Finance plans to spend another $3.3 billion on debt servicing because of his mistake in forecasting interest rates. This increase is offset by a $3.4-billion reduction in UI benefits.
Without this reduction in UI benefits, this week's Supplementary Estimates would have amounted to $5.3 billion instead of $1.9 billion. When will UI benefits be cut next? The next time interest rates fluctuate! The Minister of Finance and his Treasury Board colleague should tell us so clearly.