Mahsi, Madam Speaker.
Fiscal Framework
In his opening remarks to the committee, the chairman of the Financial Management Board said that our fiscal situation has improved slightly since December 1993. The improvement is due to new information being taken into account in the calculation of the formula financing grant. The chairman reported that, for the 1994-95 fiscal year, the shortfall is estimated at $14 million rather than $20 million as previously estimated.
Budget Strategy
The government informed the committee that it is following a long-term strategy of creating a "more efficient, more productive, and more responsive government." While fully recognizing the importance of this strategy, the committee is concerned that other...