Mr. Speaker, during the budget lock-up, federal finance officials informed provincial finance officials that the federal government will amend the O'Brien formula through its yet-to-be-delivered budget implementation act by deleting the option of a province to exclude 50% of its non-renewable natural resources, thereby leaving only the 100% exclusion option.
Is this true? I remind everyone that other changes to equalization were previously announced, like the GDP-based cap. However, this one is very different. It was never before discussed. Is it true?