Mr. Speaker, the Prime Minister has said that he is willing to give the people of Newfoundland and Labrador the deal which Premier Williams requested.
Premier Williams has now made public his written presentation to the Prime Minister. It states that the province is requesting, as promised by the Prime Minister:
100 per cent of direct provincial revenues generated by the petroleum areas in Newfoundland and Labrador offshore area, to accrue to the government of Newfoundland and Labrador and be sheltered from the clawback provisions of the equalization formula (currently at 70 per cent). Those revenues...were “over the life of the offshore petroleum production”.
If this is the deal that the Prime Minister accepted, I volunteer to make the phone call, right here, right now.