Doug Peters

[The Economy, October 30th, 1995]

Mr. Speaker, the government has a clear plan to reduce the deficit and to move from 3 per cent of GDP to a balanced budget. We have followed our plan.

Despite the changes in the economic environment, as the finance minister says, come hell or high water we are going to meet our targets in reducing the deficit. The best way of doing that is what we have done, to keep our feet to the fire with rolling two year targets. We have done that and we are going to continue doing it.

[Bank Of Canada, October 26th, 1995]

Mr. Speaker, the hon. member asks a very interesting question. There are, I believe, some smaller, mini-states that have co-operative currency boards.

The only two countries that I know of which use another country's currency are Liberia and Panama. They both use the U.S. dollar. Anybody who thinks that those two countries have some influence on the Federal Reserve Board in Washington is living in the same dream land as the separatists.

[Canada-United States Tax Convention Act, 1984, October 17th, 1995]

moved that the bill, as amended, be concurred in.

[Explosives Act, September 19th, 1995]

moved that Bill C-71, an act to amend the Explosives Act, be read the second time and referred to a committee.

[World Bank Report, September 18th, 1995]

Mr. Speaker, I thank the member for the question.

I am glad to share with my colleagues the decisions of the World Bank and the new studies they have done and the new methods they have used. It not only measures the industrial output but the national wealth and the human resources of a country.

I am proud to say that Canada now ranks number two in wealth, complementing the recent statement by the United Nations that said we were number one in the world.

[Canadian Dairy Commission Act, June 20th, 1995]

moved that Bill C-86, an act to amend the Canadian Dairy Commission Act, be read the third time and passed.

[Bank Act, June 20th, 1995]

moved for leave to introduce Bill C-100, an act to amend, enact and repeal certain laws relating to financial institutions.

(Motion deemed adopted, bill read the first time and printed.)

[Inflation, June 16th, 1995]

Mr. Speaker, I am very pleased to answer the hon. member's question.

Our budget projections were based on very prudent economic assumptions. They were also based on the holding of some reserves. Our budget projections are well within reason.

With interest rates being substantially lower than our budget projections it seems much more likely we will come in with a better budget deficit rather than a higher one.

[Inflation, June 16th, 1995]

Mr. Speaker, fortunately there are more than two choices.

I think the hon. member should analyse the inflation numbers a little better. The 2.9 per cent is well within our target range of inflation. If he looks at the recent history of the Bank of Canada he will find that interest rates have fallen recently and that those numbers are well below budget projections.

I would also like to remind the hon. member that if we are going to have continuing inflation in the country it has to be pressured by wages. The wage increases in the country have been very subdued, very low, which indicates that future inflation will not be out of hand but rather will be very low as well.

[Family Income, June 15th, 1995]

Mr. Speaker, I really appreciate that question because that is exactly what the government is doing. It is reducing the deficit, bringing it to 3 per cent of GDP in the third year of our mandate, on the way to a balanced budget. That means a falling debtload and lower taxes will follow when the time comes.