Mr. Speaker, less than a year ago the government legislated a second equalization formula for Nova Scotia and Newfoundland, which includes a locked-in, guaranteed 3.5% annual increase for every year until 2020. However, the throne speech indicates that a cap may be applied to limit equalization increases.
Will the Minister of Finance assure Nova Scotia and Newfoundland that they will receive the full 3.5% guaranteed increase every year, even if the economy as a whole increases only 1% or even zero?