Mr. Speaker, the system is in place. When there is a deficit, the government is there to cover it and, when there is a surplus, in this instance, it is true that we used it to reduce the debt. That is how we were able to bring interest rates all the way down to where they are right now. This is benefiting all Canadians, because when they pay their residential mortgage loans, they pay less. The provincial governments are also paying less to service the debt. Everyone benefits from this government's sound management.
In the House of Commons on October 30th, 2002. See this statement in context.