Mr. Speaker, the Bank of Nova Scotia just minutes ago issued a forecast projecting a deficit of $5 billion for the fiscal year 2002.
In addition to the massive layoffs and the fact that the Canadian dollar is hovering at an all time low as we speak, what is the finance minister doing to take into account this dramatically new fiscal situation in this country? Will he proceed with plans to let his cabinet colleagues like the Minister of Industry spend billions of dollars when we are now staring a deficit in the face?