Mr. Speaker, I cannot speak for the New Brunswick provincial Liberal Party, but perhaps the day they voted there was a full moon because it is a well-known fact that the federal contributions are more like 32% or 33% and that the federal contributions were never 50%.
The federal government restored social transfers to their 1994-95 level.
Total CHST cash and tax transfers will reach an all-time high of close to $31 billion in 2000 and 2001, and it will continue to grow. This is up $900 million from the previous peak in 1995-96 and up $1.8 billion since the government took office in 1993-94.
Thanks to the solid performance of the Canadian economy, the other major transfer payments to the provinces also increased substantially. Equalization payments to the less prosperous provinces are up $500 million this year from the forecasts in the 1999 budget.
Total transfers will reach an estimated $39.4 billion this year and will continue to grow over the next four years. The increase in total transfers means that provincial governments can strengthen social programs that are important to Canadians.
What does it mean for New Brunswick? In 2000 and 2001, transfers to New Brunswick will exceed $1.7 billion, will account for about 37% of New Brunswick's estimated revenues and they are expected to total about $2,348 per person, about 78% above the national average.
Over the next five years, New Brunswick will receive over $9 billion in transfers.