Mr. Speaker, I have long abandoned the deficit because when you say deficit the opposition tackles that. So let us present the real problem: the debt; the fact that the government is now adding another $41 billion to the debt. It is going to be $550 billion at the end of this coming fiscal year. It is the debt that is causing the problem and the interest on it. They make an emotional plea about jobs. Currently the unemployment rate is at 11.2 per cent. At the end of this year, with the finance minister's projections and the Minister of Human Resources Development with these 168,000 jobs offered, at the end of all this the unemployment rate goes from 11.2 per cent to 11.1 per cent. This is one-tenth of 1 per cent. Is that what this government calls giving jobs to Canadians?
All you do is talk and promise, promise, promise but you do not deliver the goods. Here was your opportunity to lower the deficit to a point at which you could leave money in the hands of private enterprise so it could create long-term, meaningful jobs and it is equity capital.
In the previous speech I heard the Minister of Human Resources Development say that capital creates jobs. There is no question that capital creates jobs but not borrowed money and not governments-equity capital not debt capital, private enterprise not public enterprise.