Mr. Speaker, the very high level of household debt that exists in Canada is a direct result of the recession, 1989 to 1992. What we saw was that personal debt rose, disposable income dropped and Canadians found themselves, as a result of policies largely recommended by the Reform Party, in rather deep difficulty.
Since 1993, when we took over, the levels of household debt have dropped. The levels of household net worth have risen. The levels of household income have stabilized.
However, there is one level of bankruptcy in this country that shows no sign of getting better, the degree of intellectual bankruptcy in the Reform Party.