Mr. Speaker, I listened carefully to the comments by the member for Winnipeg North Centre. In looking at the federal transfers to Manitoba, a one year removal of the ceiling on equalization payments was agreed to at the first ministers' conference. Because of the pressures on equalization payments, the Prime Minister agreed to lift the ceiling for the year 2000. After that, it would be based on growth in GDP year by year. It will go back to the original year so we will not know what the equalization will be for another year or two once all the numbers are in.
By lifting the ceiling on equalization payments, Manitoba would receive a further $76 million, which would be the second highest increase in equalization payments to Manitoba. In fact, if we look at total federal transfers to Manitoba for the year 2000-01 it would be $2.3 billion. That would account for approximately 35% of Manitoba's estimated revenues. Canadians are doing a pretty good job in terms of recognizing Manitoba's needs.
The member is quite right when she says that equalization is meant to ensure that there is equality in services and programs across Canada notwithstanding where one lives in Canada. It is not an exact science but that is the intent. When provinces have offshore revenues, the idea is to allow them to take advantage of some of those revenues but over time to bring them back to the intent of the equalization program.
I wonder if the member knows about the impact on Manitoba as a result of lifting the ceiling and about how that is good news for Manitoba.