Mr. Speaker, I would like to make a comment and then ask my colleague a question.
The biggest problem I have with the budget implementation act, Bill C-93, is with the budgetary habits of the Liberal government and the budget of the finance minister this last time around. I gave him an F on the budget, not necessarily for what is in it and for the numbers that are in it, but I gave him an F for what is not in the budget. I gave him an F for the perception that he is creating by distorting the strength of our economy.
He brags and assures Canadians that the back of the deficit is broken with a projected $19 billion deficit which of course will be down around $14 billion range. How can the back of the deficit be broken when we are talking about $14 billion deficits? The finance minister becomes inept because he brags about how the Liberals have restored confidence to the Canadian economy and yet he takes all the credit. Let us look at the factors that created the turnaround in the Canadian economy in the last three and a half years.
First was a worldwide drop in interest rates. Second, the drop in those interest rates was as a direct result of the Bank of Canada's monetary policy and the high interest rate policy during the Conservative regime that tried to curb inflation. The Liberals railed, ranted and ravaged the Conservative government and the then governor of the Bank of Canada for their high interest rate policy. It is because that governor was right and did the right thing that Canada kept in pace and in tune with other world economies.
Now the finance minister is bragging: "We have brought interest rates down to their lowest level in the last 30 years. We have implemented such a wonderful budget that we now have the lowest interest rates in 30 years. We deserve all the credit. Canadians will put us back into power because of our sound fiscal policies and this wonderful budgetary objective and restoring confidence in the Canadian economy".