Mr. Speaker, I thank my colleague for his speech. He was elected barely six months ago, but he nonetheless has excellent political experience, having been the mayor of a municipality.
As I believe I told the Minister of Finance yesterday, in Quebec, municipalities are not allowed to post a deficit. They may incur debt when they borrow to engage in development, but they are not allowed to run a deficit.
However, this government, which got itself elected on the promise of a small $10-billion deficit, is now imposing a $30-billion deficit on Canadians.
As a former mayor and city manager who was not allowed to run a deficit, could the hon. member explain the dangers that face Canadians due to a deficit three times higher than what the Liberals promised during the election campaign?