Mr. Speaker, I am surprised to learn that my hon. friend from Hillsborough, whom I respect and with whom I share a seat on the finance committee, found nothing to criticize in the budget insofar as he joined me in concurring in the recommendations of the Standing Committee on Finance. Does he still believe in the recommendations?
On page 27 of its report the committee recommended the government limit its program spending to inflation plus population at 3%, a level less than a third of the 9.3% included in the budget. On page 80 it recommended we immediately eliminate the capital tax. This is not mentioned in the budget. On page 26 it recommended we reallocate spending from low priority areas to finance any new security spending. Not a dime of this is provided for in the budget.
On page 30 the committee recommended the government provide a five year planning horizon. The budget provides a two year planning horizon. On page 82 the committee calls for the government to consider a yearly basic exemption for EI premiums. This is mentioned nowhere in the budget. On page 113 the committee recommended the government sell its shares in Petro-Canada to pay down the debt, realizing $2 billion in liquidated assets. This is mentioned nowhere in the budget.
On page 31 it recommended the government use its contingency to pay down the debt. The contingency disappears and is no longer directed toward the debt.
Finally, on page 33 the committee recommended all new spending be subject to the program review criteria outlined by the committee. This again is not mentioned in the budget.
How could the hon. member have signed on to these substantive recommendations, of which not one iota is reflected in the budget, and still endorse it?