Mr. Speaker, the federal government's obsession with applying the whole annual surplus toward debt servicing is having known undesirable effects, like making the poor poorer.
This obsession also has other serious economic implications. It is irresponsible to invest the whole amount in debt servicing when important sectors of our economy cannot afford to compete internationally anymore.
If part of the surplus went to government programs at least, we could go back on the offensive. The technology partnerships program needs to be replenished to ensure the development of new products and technologies that meet market needs.
The federal government needs an industrial strategy providing for the use of part of its annual surpluses. At stake is the future of our manufacturing companies and thousands of jobs that depend on them.