Thank you, Mr. Chair.
Governor Carney, I just want to highlight a couple of things.
You mentioned that domestic demand is quite robust in the country. Back in 2006 when we brought forward our first budget, which included a reduction in the GST of 1%, there were a number of individuals who came forward and called that a stimulus at a time when the economy in Canada was in fact overstimulated.
We've now moved forward. We've brought in additional tax reductions. In fact, we've reduced taxes in every way the government collects taxes. But we see that the stimulus is in fact creating a very robust domestic economy.
Can you comment on that and on how it's actually also reducing inflation—perhaps below its real or longer-term level—but it has reduced consumer prices, and so forth?