moved for leave to introduce Bill C-375, the Balanced Budget Act.
Mr. Speaker, it is my great pleasure to introduce this balanced budget bill, or anti-deficit legislation.
The effect of the bill, if passed, would be to prevent the government from incurring deficits, except under extraordinary circumstances. The Minister of Finance would be accountable to Parliament for his management. Another new element is the fact that this bill contains provisions to monitor changes in the immense federal debt.
I therefore introduce this bill in the House in the hope that all my colleagues will pass it quickly.
(Motions agreed to, bill read the first time and printed)