Mr. Speaker, I would like to thank my colleague, with whom I work very effectively on the Standing Committee on Finance.
In terms of tax transfers, I said earlier that this bill is like a chowder, a stew, a dog's breakfast or a bowl of spaghetti. These tax transfers could have been included in the bill. The Government of Quebec, which I respect, and our colleague, Quebec's finance minister, say that Quebec is owed $2.2 billion. If I were him, I would add “for the last 19 years”. What is the current value of the $2.2 billion that we have been owed for 19 years?
With the modest interest rates over these past 19 years, it would now be worth over $5 billion, or the same amount that the Canadian government will transfer to Ontario and British Columbia, which harmonized their sales taxes. Those two levels of government had productive discussions. The governments of Ontario and British Columbia have acted responsibly. They are exercising their jurisdiction, just like the Quebec government, but they will receive $5 billion. I would have thought that Quebec would have been offered at least a hint of a solution, even just the amount it has been owed for 19 years. If the government were honest, it would also pay the accrued interest, which, in this case, is more than the capital.