Madam Speaker, it is very simple. When this government came to power it changed its fiscal policy. The former governor of the Bank of Canada, supported strongly by the previous prime minister, kept jacking up interest rates in some forlorn hope that it would somehow solve all the problems. They reaped the rewards. Their understanding of how to manage the economy was so weak and so meaningless that they earned their just rewards.
In the House of Commons on March 29th, 2000. See this statement in context.