Mr. Speaker, the latest analyses of the Canadian financial situation are far from painting the rosy picture the Minister of Finance and his Prime Minister painted just a while ago. This year, the deficit will reach $40 billion, while the debt will approach $550 billion, jeopardizing both economic recovery and improved business competitiveness.
Does the Minister of Finance not agree that, in view of the sorry state of public finance in Canada, it is urgent, indeed extremely urgent, for the government to reduce drastically its operating expenditures instead of blindly relying on economic conditions and opportunistically reaping the meagre benefits as it has done recently?