Mr. Speaker, I was a little taken aback by the member's suggestion that paying down debt was not a priority. Even the member would understand that not paying down debt and transferring $3 billion to the provinces would represent an amount of money for which there would be no strings, no accountability and would in fact be a one time distribution because it is an absolute amount of money.
In the alternative, paying down the national debt in an orderly fashion saves interest. That interest is the real fiscal dividend to Canadians. It is ongoing savings year after year. It is there to support, for instance, the Canada health and social transfer, which goes for the benefit of all Canadians through the provincial transfers and has accountability provisions built into it.
Would the member like to reconsider his view of paying down debt as opposed to not paying down debt and simply transferring amounts for which there would be no accountability possibilities for the Government of Canada?