Mr. Speaker, I met with the provincial finance ministers on October 10 here in Ottawa to discuss the renewal of equalization. At the time we noted the fact that under the existing statutory authority for equalization payments that authority ends on March 31, 2004.
We discussed a lot of issues around equalization. We will be meeting again, as I undertook to do with them. I told them that I expected we would have time to pass renewal legislation but I discussed with them the possibility that we might buy a little insurance, which is what the bill tabled today is doing.