Mr. Speaker, this past weekend Liberal delegates from across Canada assembled in Ottawa for the 1996 biennial convention. Convention delegates were united in their support and encouraged the government to stay the course for continued success in deficit reduction.
The government is on track to meet or better its deficit target of $24.3 billion or 3 per cent of GDP this current year; $17 billion in 1997-98 and in 1998-99 the deficit target is $9 billion or approximately 1 per cent of GDP. This means it will no longer need to go to the financial markets for new borrowing requirements.
Interest rates are as low as they have been in 30 years. Inflation is under control and the government's number one priority of job creation is working as business and industry create thousands of new jobs across Canada.
We will be faced with new challenges that we will accept and overcome as we have to date while building a better tomorrow for all Canadians.