Mr. Speaker, a great deal of my colleague's presentation was focused on the responsibility taken by the previous government in paying down debt. One aspect of debt repayment that stands out in my mind was when the previous government honoured the offshore accords and issued upfront payments to both the province of Newfoundland and Labrador and to my home province of Nova Scotia for offshore royalties.
Approximately $800 million was put forward to the province of Nova Scotia and it very wisely applied the money to its debt. Prior to that, the province of Nova Scotia had the worst per capita debt in all of Canada. Paying down the provincial debt has had a significant impact. The issuance of that cheque to the province of Nova Scotia and its application on the debt has loosened up approximately $40 million annually that may be used for roads, hospitals and education.
What would the $68 billion that has been applied to the debt over the years equate to in a free balance on the budget each year? Where should Canadians have expected that amount of money to have been invested?