The parliamentary secretary points out that it was $3.30.
Had the right wing element of this House been elected there is absolutely no question that the premiums would have increased and the cost of business would have increased.
I also recall that we had a deficit of $42 billion at that time and the Reform Party, more than any other party, was clamouring that we should cut spending and make programs responsible. It said we should do the things that needed to be done to get this country back on a business scale that was reasonable. Yes, that is what it was suggesting. What would it have done with EI? We might not have an EI program in place today if the Reform Party had its way.
The EI program was very much in jeopardy, as well as the social programs in this country, from a to z . The Reform Party was clamouring for the government to cut and chop, cut and chop.
I recall the debate. Mr. Speaker, you were involved in that debate, so you can certainly recall it too. These fellows who are mourning today the fact that we have only cut EI premiums four times were saying we would have to increase those premiums and cut everything out from the support programs to make this government operate properly. They have totally reversed themselves.
I have been in the House for three years watching the Reform in opposition. I heard them say three years ago “Chop and burn. Slash and burn”. I remember Liberal government members saying “It is bad news. The slash and burn policies they are suggesting will destroy the economy of this country”. That was what the the finance minister said. I do not think anything could have been more true than his statement that slash and burn would do no good.
We had to set reasonable targets. We had to look at each program and deal with each program. We had to move the agenda ahead in a proper and orderly way.
In four years we took a $42 billion deficit and reduced it to zero. Why is the government being challenged today? It has had tremendous success. It has taken a program of overspending by $42 billion every year and reduced it to zero. It then, with the EI program, took a $6 billion deficit, turned it around and now there is a surplus. Building that surplus will cushion the unemployed, businesses and people who need support so that in the future when business plans change, when we run into a minor recession or when some other problem arises we will be prepared.
Liberals have always looked very carefully at what is happening in the economy at any specific time and have made certain that in good, solid years of business we do not bring in programs that will hurt people. Instead we plan for the future to guard against the difficulties that will come downstream. That is exactly what we are doing with the EI program. We are guarding against the potential of difficult times in the future.
Clearly it is very responsible to do that because so many businesses suffered so badly during the recession when the Mulroney Conservatives had to jack up the rates again and again because of the tough times.
They are in the House today, these Reformers who were the Tories. There is no question about that. This weekend in London their leader said “Unite the right, but call them Reform. Don't call them Tories”. That is interesting. Call them Reform and make Preston Manning the leader. He wants the old Conservative Party—