Madam Speaker, I do not know if my colleague realizes that two elements of his speech are key and essential to resolving the problems of recurring deficits and indebtedness.
According to several serious economic studies carried out in recent years, nine out of 10 provinces will be insolvent by 2030-35. There is a likelihood that Canada could default on its debt in 2030-35. In the meantime, two-thirds of the federal government's budget consists of all sorts of transfers. Only one-third of the budget is allocated to the provision of immediate public services.
To resolve this problem, would my colleague and the Conservative Party be in favour of the federal government letting the provinces decide what to do with two-thirds of the budget in order to alleviate the enormous financial and fiscal pressures on Canadians?