Mr. Speaker, the member is quite right. I think this economic situation will be with us for some time. I think it will be with us for the rest of this calendar year because history has shown that as the economy gains momentum there will be some consequences.
We have had some job reductions and a net job loss. We understand that in some of the provinces where they are heavy in resources, they will continue to flourish and do extremely well. We have record high prices for petroleum and oil, which means there will be a lot of revenue and a lot of wealth in resource provinces.
However, we need to realize that 60% of our economy is in Ontario and Quebec. Those two provinces, which represent two-thirds of the population of the country, are the two provinces being hit very hard by the fiscal pressure.
I would indicate that this is not the time to be an alarmist. This is the time to be responsible. Fiscal responsibility needs to be the hallmark.
I think that whichever party forms the next government will be the party that demonstrates fiscal responsibility on behalf of the best interests of Canadians.