Mr. Speaker, I want to thank the minister for sharing his views on the bill, among other things. I too will speak to this bill, but I wonder if the House would indulge me for a moment or two to address the other issues that the minister put on the table.
I noted that he spoke about the bill for but a few short minutes. However, he took some time to talk about the economy and our competitiveness on external trade. I found that his understanding of that or at least what he projected to us is kind of a shocking revelation, especially in the context of his closing remarks which addressed the business of employment and job creation.
I noted that in one breath he wanted us to agree with him that there has been a diversification of our export component to the GDP, but I think he said initially when the Conservatives became government that trade with the United States accounted for some 85% of total trade, and now it is down to 60%.
That is a shocking number. It really is a shocking number, because it means that there has been a diminution of economic activity to the tune of $148 billion annually. It is the first time that the government has admitted that under its watch we have lost another $148 billion in trade with the United States.
Where has that been replaced? Could he tell us who is giving us that $148 billion—