Mr. Speaker, for some time the House has had an interesting debate going on about surpluses. I can remember one of the reporters saying that it was a real good problem to have.
One of the things the member may want to comment on is the issue of the debt. We have paid down some $60 billion worth of debt. The debt I believe is still as high as it was when the Conservatives left office. It is a little out but very close.
The amount of surpluses that have been accumulated since the Liberal government came into office in 1993 basically have kept us at the same level of national debt that we were in when we came. Therefore to suggest that it is an inappropriate or usurious amount would be perhaps premature to make that conclusion.
I would ask the member to make some comment on the level of the surplus and on the importance of paying down debt and saving some $3 billion a year permanently that can be reinvested on behalf of Canadians. The member has been on the finance committee and he knows that the contingency and prudence factors, assuming that all things come in as budgeted, should generate surpluses. Could he comment on whether or not that is a responsible policy?