Mr. J. W. Bud Bird (Fredericton-York-Sunbury):
Madam Speaker, when this government introduced Bill C-56, the Spending Control Act, last year it set an absolute limit on program spending by law.
It is encouraging that actual spending has been more then $1 billion below that limit in the first year and is estimated to average almost $2 billion annually below the limits in the ensuing four years.
As a result the government has reduced the legal control limits accordingly and the legislation will be extended by an additional two years. The major contributing cause of present deficits has been undisciplined spending, especially in good economic times by our Liberal governments for the 15 years before 1984.
Government action to control spending by law is unprecedented in Canada. Thus it is imperative that the Spending Control Act remain in place indefinitely, certainly until a balanced budget has been achieved and we have commenced to reduce the national debt.
For years to come, perhaps decades, a strong conservative approach to public finance must remain a hallmark of government administration in Canada.
Subtopic: GOVERNMENT EXPENDITURES