Madam Speaker, it is a great honour and a privilege for me to speak to this very important budget bill.
I listened to the speech of the member of the Liberal Party. One of the reasons I did not ask him a question was I thought he completely missed the intent is of the budget.
Let me just state what is most important about the budget. The budget has certain key points. One of them is to balance the budget. This is the promise we made to the electorate. We have fulfilled this promise by ensuring that our budget will be balanced by the year 2014-15.
How do we balance the budget? It is very simple. We are cutting inefficiencies in the government. That is why the government tasked the committees for the departments to come out with efficiencies so we could operate efficiently, with a reduction of 10% in their expenditures. At the same time, we are ensuring that the regime of doing business and ensuring our core services are maintained. It is very important that we have a sound, economical management of our economy.
I have many facts from economists who state that this budget looks to the future of Canada by ensuring it is on a path to prosperity.
As Parliamentary Secretary to the Minister of Foreign Affairs, this gives me the very rare privilege to travel overseas on behalf of Canada at international conferences. What did I learn from that? A lot of people were asking this one very simple question. During the turmoil taking place in international markets, in the U.S.A., in Europe, everywhere, the question everybody asked was how we managed not to fall into that severe recession. They were very impressed with what was happening with Canada. Our economy is tied to the U.S.A., which is one of the largest economies going through recession. Europe is going through a recession. Yet Canada did not feel the severe effects of the recession. Why? Because the government took proactive steps to ensure that we were insulated from all the aftershocks that took place around the world.
The credit goes to both the Prime Minister and the Minister of Finance for steering the economy during this critical time since 2008 and for creating over 700,000 jobs. In comparison with all the others, we are sitting in a position where we are not feeling the tremors of the international markets that are taking place.
If we leave that to the anti-trade NDP party, we would feel those tremors. If we leave that to the Liberal Party, we do not know where it is going. We had a debate in the House about giving pensions to self-employed. Guess what? The Liberal Party opposed that.
Clearly we need sound financial management, and this government has provided that.
Let us see what happened this weekend in Europe. The elections in Europe will have a tremendous effect because people have voted for more expenditures. The situation Greece faces today will have a national impact. In case my colleagues on the other side did not bother to watch the report on their favourite television channel, the CBC, because Greece's economy has collapsed, its great Olympic athletes will be unable to attend the Olympics.
That is why it is very important to ensure we never get into that situation taking place in Europe or in Greece. In fact, we are quite concerned with what is going on in France. Hopefully, it will address that issue.
In the Daily Telegraph, the finance minister said quite clearly, in talking about the crisis in Europe, that Canada was taking care and looking after its own house. This budget is about that. He said that there should not be an IMF bailout for the Europeans. The Europeans have the same ability as Canada to look after their house. They should be doing that and not asking for money from the International Monetary Fund, or from other countries, to bail them out because they do not have their house in order.
We should take lessons from what has gone on in Europe to ensure that those conditions do not exist in Canada. This budget is about that.
Everyone will be debating the budget. We have heard the opposition. Since we have been in government, we always expect the NDP to oppose us. I am quite happy when it does because it means we have done something right.
As for the Liberal Party, when it tried to balance the budget, it dumped all of its expenditures onto the provinces, creating a severe problem. Then it suddenly said that it had balanced the budget. This government is not going in that direction.
Our government is taking one of the strongest steps by cutting expenditures by 10%. That impacts everyone. That is the way it should go, cutting expenditures and getting our house in order so we live within our means. That is the most important thing. Then when we live within our means, we are able to fund core policies, policies that are very dear to Canadians, such as health care and the Canada pension plan. All of the policies require sound investments. That is what we will do once we move on this path.
By the year 2014-15, we will balance our budget. We will be living within our means without cutting core principal programs. Sure there have been some job losses. Everyone in the world feels a little pain with cuts. However, the economy will remain strong and everyone will be able to readjust and get those jobs back. That is the key element.
As recently as two weeks ago, when I was with my colleague in Trinidad, I talked to its finance minister. He was quite surprised that we had cut government expenditures by 10%. He told his colleagues that a G8 country was cutting expenditures so it could balance its budget and that was something they should learn. That is what Canada is doing. With sound economic management, we are sending the message to other countries around the world to bring their houses in order so the world economic situation can come back to normal and they will not feel threatened with both the uncertainty in Europe as well as the U.S.A.
It is critically important to understand what the budget will do in the long term. The readjustment is fine. At least inefficiencies are being removed. Does the opposition not think we should bring our house in order? Should we not balance the budget? Should we not live within our means and ensure we maintain that? That is the aim of this budget. I hope the opposition will wake up and see that this is the right budget for our country.