Mr. Speaker, I find today's debate extremely interesting and I am learning a lot about equalization and its components.
I have one concern about this bill, and I think my colleague mentioned it briefly towards the end, but I would like him to come back to this issue.
As we all know, there will be an election next spring. Short of a miracle, an election will be held. Right now, the provinces are in a strong position to negotiate and have many demands. In the next five months, they could have the opportunity to negotiate and get what they deserve.
If the agreement is extended for a year and a half, the provinces may lose ground. The provinces are now the strongest, but the new elected government may not see it that way. This is one reason why I will be voting against this bill, to ensure that the provinces are in a strong position to negotiate and get their fair share.
Also, as my hon. colleague briefly mentioned, for these people to say that we voted for such a measure is both frustrating and insulting. I also have a feeling that we will be criticized later on for supporting the previous formula because we voted in favour of a bill extending the agreement for another year.
I would like the hon. member to clarify some of my concerns and tell me if I am right in my thinking.