Mr. Speaker, I draw the attention of the member for South Shore to a few numbers which he may like to consider. I listened to him with great attention and I hope he will listen to me with the same attention.
In 1990 when his party was in power the bank rate was 13%. Today in 1997 I believe the bank rate is 3.75%. In 1990 when his party was in power the prime rate was 14%. Today the prime rate is a mere 5.25%. Best of all, in 1990 when his party was in power the five year mortgage rate was 13%. Today in 1997 under the Liberal government after four years of fiscal responsible administration of the country, the five year mortgage rate is a mere 6.75%.
I suggest to the member that the reason there is so much unemployment and so many problems is that the previous Conservative federal government failed to manage the economy responsibly, created a stranglehold on the economy and jobs were lost. Now we see that even the NDP has to admit that because of excellent fiscal financial management of the affairs of the nation we have driven down interest rates in an extraordinary fashion. When the economy is rolling the jobs will follow and they have been following.
I wonder what the member for South Shore has to say about that?