Mr. Speaker, prior to the March 2007 budget, Canada only had one equalization formula for all provinces. Now we have three unequal equalization formulas. Nova Scotia has the choice between the O'Brien formula and a new formula. It expires in 2020. Eight provinces have the O'Brien formula. They expire six years later. Newfoundland has the amended 2005 formula but no O'Brien formula.
At one point, the minister saw merit in having one principle-based equalization formula. Does he have any intention of reverting back to that and having one equalization formula for all provinces, instead of three?