Mr. Speaker, I want to congratulate the member for Yukon who has been a tireless defender of the interests of Yukon. His speech outlined a number of the aspects affected by this bill and the formula financing.
I note in the bill that the amount under the formula financing payment to Yukon is $487,147,000. That will be escalated at about, I believe, 3.5%, compounded annually thereafter for four years.
When we talk about $487 million, or a billion dollars, how does that translate into the ability of Yukon to deliver the national programs to the ordinary citizen? It sounds like a lot of money, but how much does it really cost and how does it translate into ensuring that the citizens of Yukon continue to participate fully in the programs of Canada?