Mr. Speaker, the previous Liberal government put in place a contingency reserve, a rainy day fund, to protect Canadians during times of economic downturn. Now the Conservatives have foolishly squandered that fund.
The Prime Minister said that back in August 2007 he could see a global downturn on the way.
If the Prime Minister could actually foresee storm clouds on the horizon, why did he permit his finance minister to eliminate Canada's rainy day fund?