Mr. Speaker, we have cut quite substantially in the last budget. It was not easy to do. We have some problems to cope with and we think we have managed the situation quite reasonably.
We have a goal that is achievable: to reduce the deficit in relation to GDP to 3 per cent per year. This goal is very reasonable because 3 per cent of the GDP is the requirement for any country to qualify in Europe to use the new currency called the ECU. If it is good enough for all countries of Europe to have that goal, it should be good enough for Canada. I am saying that is a commitment in the red book and we will achieve that goal.