Yes, Mr. Speaker, tough choices had to be made in the 1990s.
I recall as a business leader sitting around boardroom tables talking about the fiscal crisis in our country. The fiscal crisis was so bad that the International Monetary Fund was about to enter Canada. Can members believe our debt-to-GDP ratio was somewhere in the seventies? We are talking about a serious problem and the legacy of the former Conservative government. When we took over power in the early 1990s, we were $42 billion in deficit, $500 billion or more in debt.
It is unbelievable that the member who spoke did not credit the Liberals for having the solid banking system that Canada enjoys today, for ensuring that we have the room within our fiscal framework to ensure that we could make the investments. I am sure the member opposite would also agree that we made the investments during the 2000s. It is truly unfortunate that since the Conservative government has taken power, we have slipped back into deficit after 10 years of surplus where we could actually start making investments in our country.
I am sure that when we are given the opportunity again, should we ever be given the opportunity again, we will make sure that Canada once again is strong.