Mr. Speaker, I am sure the hon. member knows the equalization formula is complicated. I am one who understands it and I am sure he does, too, so he does understand that a fiscal cap is about fairness.
When the O'Brien commission came back with its report, it recommended a number of changes to the equalization formula to return it to a principle based approach. The reason for that was so we would not have the Liberal approach to chequebook federalism, pitting provinces against provinces, pitting regions against regions to the detriment of the federation. A principle based approach brings back the best for all regions of this country in a fair approach.
As the member knows, these key changes to the equalization formula are in the best interest of the entire federation. These include a 10 province standard and that provinces can opt for an equalization payment formula. Provinces have a choice, as the member knows, which is what would affect Newfoundland and Labrador. It has a choice to either have a payment formula that would be based on the full exclusion of natural resources or it could move to a formula that contains 50% exclusion, whatever it wishes to do and whichever formula is in its best interest.
The member also knows that a fiscal capacity cap provides fairness, particularly in the case of the Ontario government. He knows the fiscal capacity cap directly relates to the economic and fiscal capacity of Ontario. He is arguing against--