Madam Speaker, as the member who just spoke said, in 1984 when the Conservatives were in power under Brian Mulroney, Canada's debt was $150 billion. By 1993, when the Liberals took over, the debt had risen to $750 billion. The Conservatives incurred that debt over a period of nine years. They took the $150 billion debt and grew it to $750 billion.
In his speech, the member who just spoke also pointed out that when the Liberals took power in 1993, with Jean Chrétien and Paul Martin, they had trouble keeping their majority in 1997. Why? Because the Liberals chose to reduce transfer payments to the provinces to pay down the debt that the Conservatives had accumulated at a rate of $54 billion per year. That affected the provinces, including Quebec. Funding for education and health was slashed. They also appropriated $6 billion in surplus cash from the employment insurance fund.
Was taking money that should have been transferred to the provinces, money that went along with the transfer of certain responsibilities to provinces and municipalities, a good way to manage the nation's finances? Was cutting funding to the provinces and taking $6 billion from the employment insurance fund the right thing to do?
The Auditor General said that when the previous Liberal government was in power, annual contributions in excess of $58 billion from employees and employers produced a $58 billion surplus. Unemployed and seasonal workers have been denied access to that money.