Mr. Speaker, in its first budget in February 1994, the federal government announced it was cutting an additional $2 billion from its contribution to provincial social programs in 1995-96 and 1996-97. In its second budget, it hit the provinces a second time by offloading its deficit in the form of new cuts that will total $2.5 billion in 1996-97 and $4.5 billion in 1997-98.
My question is directed to the Minister of Finance. Would he confirm that according to the distribution formula for the Canada social transfer in Bill C-76, the latest budget's additional cuts in transfer payments to the provinces will, next year alone, result in a shortfall of $650 million for Quebec?