Mr. Speaker, clearly that member and the Bloc have not read the bill. The bill has nothing to do with the issue he has raised. This is an insurance policy. Currently, the Minister of Finance is meeting with his counterparts. As members know, they met on October 10, they are continuing these discussions and they will meet again.
As far as what will happen in the future, that is something we are anxious to resolve. Obviously, by March 31 we want to have the agreement in place. However, in the unlikely event that we do not have an agreement, this insurance policy will ensure that moneys continue to flow to Quebec and the other seven provinces.
The fact is, without this legislation, there will be no money, and I am sure that member will have the audacity on April 16 to stand and say “Where is the money?” There is no money because his party is holding up Bill C-54. We need to have this in place as an insurance policy.
We have two tracks here. One track is negotiating with the provincial governments. The meetings have gone very well, and I again emphasize that.
If we do not have an agreement at the end of March, although unlikely, I assume that member would support insurance just as he would on his house or his car? He gets it not because he hopes he will have to cash it in, but for protection.