That is right. As my colleague says, that must obviously give us some evidence that we must be right. Canadians certainly feel that we have reached a balanced position in the budget.
We have met our targets. For the first time in over 10 years a finance minister has announced deficit targets and has actually held and met those targets. He has exceeded those targets. In just a year and a half this minister has produced two budgets both of which have cut spending and have begun the important government restructuring which must take place as we move toward the 21st century.
In the next three years over $29 billion in savings will be realized. I remind members that there are $7 in cuts for every $1 in revenue in this budget. It is quite clear to Canadians that this budget turns the corner. It puts us on a national diet, if you will. It indicates the way in which we must start to seriously attack this deficit problem with the view to totally eliminating it when that is possible.
The minister's two year rolling target is a sensible determined way to go about this. No, it is not endorsed by the Reform Party, which wants to be much more slash and burn in its approach, but then again Canadians do not generally endorse that view.
The reaction I have had in my riding to this budget has been quite favourable. My constituents are pleased. Canadians from coast to coast to coast have indicated repeatedly that they are pleased. No, not with every single decision in the budget but they are pleased in general that the minister and the government are on the right track.
In my riding I have formed an agricultural advisory committee. The previous speaker from the Reform Party pretty much solely addressed large parts of his comments to agriculture. The farmers I represent have made it clear that yes, they took a hit, but they acknowledge that business subsidies were cut by 60 per cent. The farmers I represent feel that the finance minister got it about right.
It would seem that except for Bob Rae who has an election coming up pretty soon which he would like to duck and some of his colleagues in the NDP-