Mr. Speaker, I think that the parliamentary secretary just proved that the equalization formula is not working. It is not only a matter of amounts. It is great that we could enjoy $2 billion more in equalization payments because the economy was doing well at that point. However, when $1.4 billion or more is subtracted the following year, it makes it difficult for provinces, and particularly for Quebec, to plan.
Not only should the amount be higher, but it should also be more predictable. If the equalization system cannot ensure a proper degree of predictability and appropriate federal transfer payments, a new system will have to be devised. Let us not forget that there is money at the federal level. There is a surplus. There is waste in the bureaucracy. There is an additional $10 billion in spending and $7 or $8 billion are sitting in foundations. There is enough money to increase the transfers. If this cannot be done through equalization payments, let us turn to another system.
The amounts should be sufficient to cover health care and education spending in Quebec. Moreover, the amounts should be predictable and government interventions should not be on an ad hoc basis as is too often the case. A modest $2 billion is given out, but there is no guarantee that we will have it again next year.