Mr. Speaker, it is not good enough to say that the equalization formula cannot be changed or adjusted unless the provinces agree.
The federal government has already adjusted the clawback provision for Newfoundland's Hibernia project. The Minister of Finance gave every indication during the St. John's West byelection that an adjustment could be made to the equalization formulas.
Will the Minister of Finance be clear as to whether the former premier of Newfoundland, now Canada's Minister of Industry, raised our hopes in vain on this issue?