Mr. Speaker, my Conservative colleague has expressed very well the tendency of this government to underestimate surpluses over at least the last eight years. What we have seen in the last eight years is in fact much more serious. Overall, we can say that the government is quite good at estimating expenditures, which are usually in line with its forecasts. The problem lies mainly with the revenues, which are consistently underestimated.
Recently, the Standing Committee on Finance heard some officials of the Department of Finance. We told one of them that we found it quite strange that the Department would consistently underestimate its revenues for eight years. The official's answer was exceptionally candid. He said that the Department of Finance had to calculate an average of the surpluses or a fiscal balance average, but that it could not be done on a ten year period. The figures have to be calculated every year. However, the government's budget is based on a five year period. The finance minister should, perhaps, be talking to his officials.
As far as debt repayment is concerned, there is no budgetary item in this budget for the debt repayment. What we have seen in the last eight years is accounting calculations, macroeconomic calculations, and what I now call creative calculations through contingency reserves, prudence reserves and ministerial anxiety reserves.