Mr. Speaker, I hate to point this out to the hon. member, but in fact when the previous Conservative government took office from the Liberals the rate was at $2. I hate to do this but in 1989 under the Tories the rate was $1.95. In 1990 it went up to $2.25. Then it went up to $2.80. Then it went up to $3. When we took office it was going up to $3.30 and we would not let it happen. That is why it is at $2.70 today.
In the House of Commons on May 27th, 1998. See this statement in context.