Madam Speaker, I would like to tell the Chair that I will be splitting my time with the hon. member for Cumberland-Colchester. On behalf of the constituents of Brome-Missisquoi, I would like to congratulate the Minister of Finance, who lives in my riding, for the courageous budget he tabled on February 27, 1995, five days after I was sworn in and became an official member of the House.
In the February 13 byelection, one of the mandates I was given was to ensure the good management of public finances. That is what we in the Liberal Party are currently doing. Canada is on the right track. We kept on having visions of a deficit out of control. We absolutely had to review the federal government's activities. The result was that we introduced a series of cuts, and I believe that the government made wise choices. The thousands of people I met during the election campaign told me that the government should trim the fat, not increase income taxes for individuals.
That was what it did in the budget. The support that people have given to the Minister of Finance's budget proves that Canadians want to eliminate the deficit as quickly as possible and that the remedies he is using are fair.
The Liberal government set realistic and firm objectives for itself during the election campaign, which we are now in the process of attaining. It is important to keep the momentum going. We will reduce the deficit to $32.7 billion in 1995-96 and then to $24.3 billion. By 1996-97, the deficit will have sunk to its lowest level since 1974-75.
The measures in the budget will fundamentally change the size and structure of the government machine. Program spending will be reduced from the level in last year's budget, $120 billion, to close to $108 billion in 1996-97. The size of government will be substantially reduced over the next three years. Compared to 1994-95 amounts, departmental budgets will be reduced by close to 19 per cent. The budgets of some departments will even be cut in half. All told, these measures will create savings of approximately $17 billion over three years. As a result of this vast reform of federal programs, 45,000 jobs in the public service will be cut over the next three years.
Of course, it would have been unreasonable to cut program spending without trimming the public service. We will never rid ourselves of the deficit unless we trim the fat in government and improve management and efficiency.
These are but a few of the specific measures in the 1995 budget allaying the concerns of my constituents and all Canadians. The role of regional organizations, for example the Federal Office of Regional Development-Quebec, will change, as they will be called on to help small and medium size businesses by means of loans and repayable contributions, not grants. My constituents will be happy to know that they will still be able to count on their MP and the federal government when it comes time to open up a small or medium size business.