Mr. Speaker, first, this budget builds on the successive budgets of the government in terms of a balanced approach. We have balanced the books again. We have reduced the national debt. Canada is the only G-7 country that has paid off its national debt. We have gone from 71.5% to below 40% and are on target for 25%.
That is a pretty enviable position given the record of other countries and given the $42.5 billion deficit the government inherited in 1993. Given the fact that the New York Times in 1994-95 suggested that Canada was an economic basket case, we have done not too bad given the fact that we have had eight balanced budgets.
Some members of the House have suggested incorrectly that we have not made our targets. The previous Conservative government did not make its targets either. Unfortunately, that is how we wound up with a $42.5 billion deficit, which we inherited in 1993.
This government ensured that the deficit was eliminated. It started to invest in key social programs. It has ensured that the debt of future generations has been reduced and reduced significantly, by $60 billion in the last five years. That is very important to the average Canadian.
Some members of the opposition would like to pick and choose. I was parliamentary secretary to the finance minister for two years so I have some idea of how this works. We cannot carve out what we like. We like the Atlantic accord so we are prepared to deal with that. The government House leader suggested that if the opposition really wanted the Atlantic accord, then it should pass the budget bill and pass everything at once. After all, this is a budget for Canadians, for families and for cities. It is also a green budget, which is what I really want to talk about.
I also want to point out the fact that the members of the Conservative Party, the Alliance, paid no attention to cities for 10 years. When the Federation of Canadian Municipalities proposed a national infrastructure program in 1983, the Conservatives, when they came into office in 1984, did nothing, and they did nothing for 10 years. I happen to know that, having spent 12 years in municipal politics and as a former president of the FCM. I would not hang my hat on anything those people say because clearly they did nothing for 10 years. What did we do? We came into power, and we have had successive infrastructure programs and they have worked very well for cities.
I listened to the hon. member across the way. Some of those members would rather hoot and holler than listen. They have no respect unfortunately, but that is the way it is. They would rather try to shout down people than listen. If they have questions, they can ask the questions.