Let me go to the underlying factor here. What's happened, of course, is that we were surprised with the strength and growth of nominal GDP, in particular in 2004 and 2005, largely because of improvements in terms of trade.
As everyone around the table knows, we tax nominals, not reals. So revenue strength, whether it's tax revenue or royalty revenues, in Alberta in particular, has been stronger than we would have anticipated.
Now, it is absolutely true that looking forward we expect this to turn around. The bit better than 6% growth in nominal GDP, which we saw last year, we think will be below 5% this year and could well be 4% next year. So there are clear risks in terms of nominal GDP growing much more slowly than growth in real.
I think this is an issue. There are risks both on the federal level and in the provinces, which rely fairly heavily on corporate income taxes or directly on royalty revenues.