Madam Speaker, I would like to ask my hon. colleague if he shares with me a certain excitement about the future of Atlantic Canada.
If we look at Ireland 10 years ago and compare it to Atlantic Canada today, I think the House would agree that a lot of comparisons that can be drawn. The fact is that a tax based strategy, largely based on the transfers from the EU, allowed Ireland to transform itself over that period of time.
We could change the equalization to make it more effective and enable provinces such as Nova Scotia and Newfoundland to keep more of the offshore revenue to lower taxes and debt. Would the hon. member agree that transforming Atlantic Canada by using economic development strategies we know work in other parts of the world would be a great legacy? Can we not change equalization to work now instead of dilly-dallying and doddering around and dealing with old economic development strategies that have failed?