Madam Speaker, the Reform Party believes there should be no net tax increase in terms of revenue to the Government of Canada. There is adequate revenue to support the programs that are here with a change in some priorities. That is number one.
If we plug a loophole somewhere which increases revenue, that should not mean we increase the overall revenue but we should then look at reducing tax somewhere else to the benefit of Canadians which may create some jobs in the marketplace. That would be a good transfer if it is possible. We are not against the plugging of loopholes for fairness, whatever that term means.
On the other side of the balance scale, expenditure reduction and deficit elimination is the road to which we can balance the budget and bring our fiscal house in proper order. We do not believe that 1 per cent of GDP expenditure reduction in three subsequent years will hurt or harm our economy in any way. That is a goal that could be achieved.
The government should look at that. The government is not. It is going to, as the member has stated, work toward the objective of 3 per cent of GDP, which will accumulate another $100 billion on top of our debt. This means that our interest payments may go from $40 billion to $50 billion which I think Canadians do not want to tolerate at this time.