Mr. Speaker, I thank the hon. member for his kind words. It is that independence which tells me that when we look at an issue, just as when we look at a patient, we cannot only evaluate one symptom to be the basis of the total diagnosis. We have to look at the total picture. Therefore, when we look at interest rates we cannot only look at the short term interest rates, we must look equally at long term interest rates.
The hon. member would admit that short term interest rates have somewhat increased. Of course, we wish it had not happened. However, we must realize that the long term interest rates which have continued to remain low are an indication of the economic confidence that investors continue to have. They have that confidence in the country or they would not have allowed the long term interest rates to go down.
That side of the equation indicates that although there has been an increase in short term interest rates, the fact that long term interest rates have remained low and that Canadian interest rates are lower than those in the United States by five percentage points indicate that we are on solid economic ground. We should continue the track we are on and when we show a surplus, have a balanced approach, but never again to go back to deficit spending, as the NDP premier of Saskatchewan said. That is what this motion seems to indicate we should do.