Mr. Speaker, I listened attentively to the honourable member. Quite frankly, I am getting sick and tired of the government's trying to brag about bringing the deficit down to 3 per cent or 2 per cent of GDP. I find that totally misleading for the general population. The government likes to quote that number because it is a small number, when in reality it should be talking about the debt and its percentage of GDP. That number is considerably higher. The debt to GDP ratio is more like 73 per cent.
The hon. member quoted statistics. She seemed to enjoy quoting statistics to tell us how wonderful Canada is doing and how great the government is doing. She mentioned that Canadians want the deficit and debt reduced but they also want those who are the most vulnerable in society protected. It is interesting that she mentioned not only the deficit but the debt in that statement. Canadians want the deficit and the debt reduced.
Let us talk about the debt for a minute. The debt under this Liberal administration has grown since 1993-94, when it was about $508 billion, to a projected figure for next year of $602 billion. That is an increase of almost $100 billion.
The hon. member talked about revenue in her speech. She mentioned that there have been no increases in personal income tax. She might be right about that, but revenues have increased dramatically. Revenues have increased from 1993-94 when they were $116 billion to a projected figure in 1996-97 of $136 billion, an increase of about $20 billion of increased income from the taxpayers.
Those are the real numbers that count, not the deficit but the debt. The fact is that the interest charges on the public debt have increased from $38 billion in 1993-94 when the hon. member's government took office to a projected $49 billion of interest charges for next year, an increase of $11 billion. Those are the numbers that Canadians should be concerned about. Those are the numbers that present the most serious threat to Canada's social programs.
I would like the hon. member to address those numbers when she is talking. I think it is totally irresponsible of the government to be talking about reducing the deficit when the debt continues to grow at an alarming rate.