Madam Speaker, I thank the member for Cypress Hills—Grasslands for his two questions.
With regard to why we do not level the formula out and do it on the per capita gross domestic product, I would probably be the last person in the House one would want specific advice from on creating a formula.
I have listened to a lot of the debate today on the formula and it seems to me that it is not terribly relevant. A formula is calculated. When it was first started in the 1950s equalization was based on three variables and now we are up to 33.
I have been involved with fund raising and revenue sharing and sometimes we get into very complex formulas. It is like getting behind the wheel of a car. I do not necessarily have to know everything about how the motor functions but I know where the key goes, and where the gas pedal and the brake are. What is important is that we have a formula that is overall fair to all of the provinces, both those that are recipients of financial largesse and those that are paying. Perhaps the government would be in a better position to answer specific questions on what the formula should look be.
It is the same with the land claims settlement. I cannot comment on what impact those settlements will have on equalization payments in the future.