Mr. Speaker, it is easy to understand. There are two facts: first of all, the provincial debt load is half the federal debt load. Second, over the past 30 years there have been 25 federal deficits. Was there always a fiscal imbalance when these deficits took place? I do not think the hon. member will admit that there was.
In the House of Commons on November 20th, 2002. See this statement in context.