March 11, 1977 (30th Parliament, 2nd Session)

Hon. Donald S. Macdonald (Minister of Finance):

Mr. Speaker, I would like to make several comments on the hon. gentleman's brief speech. Whatever the source of funds for urban transit, the fact of the matter is that that would be an increase in expenditures which, if I understood the hon. gentleman, is something he is against. Second, with regard to the hon. member's urging us to tighter fiscal and monetary policy, we have, of course, been maintaining a strict monetary control through the Bank of Canada on the increase in the money supply. His advocacy for a tighter fiscal policy falls on my ears in an interesting way as well. I guess he is suggesting a more restrictive rather than stimulative budget. With regard to the statements about the timing of the anti-inflation program, I expect to be able to make some statements in that regard in the budget context.