Mr. Speaker, I will not let the Minister of Finance forget a promise he made in St. John's during the federal byelection campaign. The minister, supported by the current Minister of Industry, promised that he would take a serious look at a different equalization arrangement for the Atlantic provinces.
As the minister knows full well, the Atlantic area will always be playing catch-up under the current equalization formula. Provinces like Newfoundland will never truly benefit from the development of our resources while the federal government insists on clawing back the lion's share of revenues from those resources.
Will the Minister of Finance keep his promise to the people of Newfoundland? Will he give Atlantic Canadians a chance to become equal to the rest of the country by adjusting the equalization formula that is currently designed to keep us have nots forever?