Mr. Speaker, in the last fiscal year for which figures are available, 2003, the Government of Canada generated revenues of $177 billion and the provinces received $166 billion including tax points.
Once the transfers are done, the provinces have just over $200 billion and the federal government is down to $140-odd billion. The federal government, however, is still left with 22¢ on every dollar for debt reduction where the provinces have 11¢ on every dollar.
Therefore, if there is a fiscal imbalance, it is the other way.