Mr. Speaker, I know the hon. member opposite is an individual who likes to keep the House fully informed of all the facts. It would not be for me to suggest that there is any form of negligence being exercised here today.
As the hon. member knows, the reduction of interest rates alone has saved the treasuries of the provinces in excess of $1.8 billion. Approximately $8.6 billion is being provided through the auspices of equalization.
The provinces asked something of the Government of Canada. They asked for predictable funding with a cash floor. Not only did we provide them with a cash floor, but we provided them with predictable funding not for three years, as they had requested, but for a five-year period with an escalation clause.