Mr. Speaker, last week we asked the Prime Minister if he would respond to the falling dollar and rising interest rates by making a stronger commitment to deficit reduction.
The Prime Minister refused to do so and now just yesterday, as has been mentioned, the Dominion Bond Rating Service downgraded its credit rating on the federal government foreign currency debt.
The DBRS said in making its downgrading that the federal government policies are not stringent enough to get the government out of the debt trap and if it wants a better rating it will have to include some meaningful spending reductions in the 1995 budget.
Is the Prime Minister now prepared to direct the finance minister to bring forward a stronger deficit reduction program before the government's credit rating is further downgraded?