Mr. Speaker, it goes without saying that we have the greatest respect for Mr. Crosbie, who was a Progressive Conservative minister of finance in this place. I had the opportunity to speak with him about these issues during the course of the past several months and we value and respect his views.
However, in terms of Newfoundland and Labrador and Nova Scotia, which have accord agreements, the plain fact is that those accord agreements are the status quo agreements which they can choose to continue with or they can go with the modified O'Brien formula. However, no province will be worse off in Canada as a result of the new equalization scheme.