Mr. Speaker, I will be splitting my time.
I am very pleased to take part in today's debate because it deals with an issue that is very important to the future of my province, Nova Scotia, and also to Newfoundland and Labrador, the birthplace of my grandmother as a matter of fact. She was born in Cape Broyle and grew up on Bell Island, next door to the member for St. John's South—Mount Pearl as he points out.
It is also important to get the facts on the table and explain exactly what is at stake in this situation and these discussions, which I am pleased to say are ongoing.
In my province for example, we are talking about something in the range of $80 million a year in additional revenues, on top of the revenues recently agreed to, new revenues, increased revenues for health care. This year, for instance, in Nova Scotia there is $62 million more for health care. That is important in my province. It is meaningful. It has real meaning for people who use the health system.
There is an additional $151 million this year in equalization money. That is important also. That has a real impact. My kids are in public schools in Nova Scotia. It is important to them to have good schools.
It is important to both provinces to have those benefits. Of course, all provinces that receive equalization depend on those moneys to provide good education and good health care. It is very important.
The fact of the matter is we are talking about this and we have these additional revenues coming because of the promises the Prime Minister made and the commitments this government made during the election, the commitments that we are living up to.
During the election the Prime Minister promised that our province, Nova Scotia, would retain the full benefits from its offshore resources. We already receive, as colleagues know, all the royalties and revenues. This is all about equalization and what happens with equalization.
We are also talking about building and strengthening the Nova Scotia economy and about working to make our province, from our point of view at least, and colleagues from my province would agree with this, the economic engine of the Atlantic region. I am sure my colleagues would agree with that on both sides of the House.
That is why it has been critical for the federal government and provincial governments to have ongoing discussions in an effort to conclude a deal. It is why both sides have stayed at the table to explain their positions and work together to find a solution, to get the right wording that gets the job done for Nova Scotia. That is why we continue to make progress. I am very encouraged by the progress that is being made. This is a process that is serving Nova Scotians well, a process that should be allowed to continue.
The Minister of Finance and I have worked closely on this file for a number of months now, with Cecil Clarke, Nova Scotia's minister of energy. I can say to members on both sides of this House that Minister Clarke's mature and responsible attitude throughout these talks is deeply appreciated and very constructive. I know the Minister of Finance would join me in that sentiment. I have enjoyed working with Minister Clarke and the Premier of Nova Scotia to discuss these matters in working toward an agreement. I am confident we will see one before long.
Speaking of which, I was pleased to see just outside the House today the minister of fisheries and agriculture from Nova Scotia, Chris d'Entremont, with whom I also work regularly. I recently had the pleasure of working with him when we were in Whitehorse for meetings of the provincial, territorial and federal ministers. We had a very good session. We are working on a number of fronts in a very positive way. That is important because that kind of cooperation between levels of government is vital.
I am pleased with the strong degree of cooperation between the two parties in these discussions, despite the best efforts by others to put their own selfish interests ahead of the interests of Nova Scotia. We have seen that in this debate.
Not only do the ongoing talks show that both parties are committed to doing what is right for Nova Scotia, they also show that they can keep petty politics from derailing the process. We are going to make sure that it does not derail the process no matter what members on that side want to achieve, because that is what the people of Nova Scotia want. They want these discussions to continue fruitfully, not get derailed by politics. The people of Nova Scotia want both sides to work together to make sure that at the end of the day we have a deal hammered out. That is where we are going.
I can only hope that my colleagues across the way, the Conservatives, are genuine in their interest in discussing the proposed deal that has been put on the table. If they are, they will recognize, as any reasonable person would, that this government is being fair to Nova Scotia. We are committed to working with the province in good faith to work out an agreement that works. This government is committed to providing Nova Scotia with 100% of its offshore revenues. That is important and that is the basis of our discussions.
There is another important point that ought to be clarified. The Government of Canada has made it very clear both orally and in writing that if a deal is reached with either Nova Scotia or Newfoundland and Labrador, similar terms will be offered to the other party. There will be an equivalent deal either way. That has been the deal all along. That is very clear. There is no doubt about that.
It means there is no risk for Nova Scotia to accept the offer which has resulted from the ongoing negotiations. I think we are very close to that point.
I am not sure why the opposition finds a deal that gives 100% of its offshore benefits to Nova Scotia so deplorable. In fact I would put this deal up against the one the opposition leader tried to slide by Atlantic Canadians during the election. It sounded very good. It sounded like 100% but if we look at the fine print, in the case of Nova Scotia in fact it would have meant $6 million less in equalization and the opposition members know it. They make all these noises about suddenly being friendly to Atlantic Canada, but we see lots of converts on that side to this care about Atlantic Canada today.
I find it quite remarkable after all the years of attacks on Atlantic Canada from that side of the House how wonderful they feel about us today. It is really heartwarming.
The opposition says that our government's treatment of Newfoundland and Nova Scotia is deplorable. This raises a few questions given what has been achieved in the past year.
What is deplorable about billions of dollars in additional money for health care? What is deplorable about billions more in equalization? I am not hearing any answer, but I am sure I will in due course.