Mr. Speaker, I am not sure if I can respond to that question directly because I am not sure how I am not citing Sir Nicholas Stern accurately, but I would suggest to my hon. friend and colleague that he ought to look at the latest McKinsey report.
It concludes that greenhouse gas reductions needed by 2030 to avoid a 2° average warming effect could be as low as 40 euros or roughly $60 Canadian per tonne. These are price points in the marketplace now in the European trading market and the emerging Chicago-based United States market and global markets and are very much in keeping with what is going on.
The study also concludes that the annual worldwide costs for making the needed emissions reductions to avoid worse climate change in 2030 is only 0.6% of that year's projected GDP.
I would perhaps place more credence in these numbers from the McKinsey firm than in those of the few economists selected last week by the government. These numbers are actually very much in keeping with Sir Nicholas Stern's report.