Mr. Speaker, as I mentioned in my opening remarks, one of the key components of our long term plans to improving post-secondary education for all Canadian students is fixing what has been called the fiscal imbalance and what we are now calling the fiscal balance.
We need to address the situation where we allow the provinces to participate more fully in the revenues that we receive. Quite frankly, there is quite a large disparity between the revenues received by governments on a provincial basis and revenues received by the Government of Canada.
The ongoing discussion we have been having with the provinces and territories is to find a solution to fixing the fiscal imbalance situation and where provinces can more fully participate in the revenue sharing. Once that happens, and I am quite convinced it will, provinces will hopefully have the financial ability to address the post-secondary education delivery system more effectively.
We think that after years of neglect by a federal government that did not even acknowledge there was a fiscal problem in the cost sharing between governments, federal and provincial, this government is committed to solving that problem. We hope to make our first foray into that with the approvals, frankly, of all of the provinces and territories this fall.
I can assure the hon. member that hopefully by no later than the next fiscal year and the budget of 2007 many of her concerns will be answered.