Sir, we think it's our role to provide the economic and fiscal context. How big is that output? How weak is output in Canada? What is the unemployment rate gap relative to some measure of full employment?
We're quite comfortable in terms of analyzing stimulus spending in terms of the stimulus we've seen go out the door at the Canadian level, at the 2% level, and IMF practices.... We looked at various principles--timing, temporary, and the targeted nature--and we think that for most part the package we produced for stimulus in Canada is consistent with those three principles.
In the context of an output gap, what is significant is 5% in the third quarter and, again, not closing until 2013. Would there be measures you want to be mindful of? In the context of the unemployment rate, right now it is at 8.4%, and the gap is closing very slowly. Even in 2013-14, it still will be upwards of 6.5% to 7%. Are there measures? What do they look like?
These issues have already been raised here today, such as what the potential impact could be. Increasing EI premium rates is an example. The total cost to employers and employees would be upwards of $700.
In the context of trying to stimulate, to grow the economy faster, and to close the gap faster, what are the appropriate policies? We're more in a position.... If you put questions to us and ask us if we can analyze them in the context of this output gap, we'd be more comfortable doing that than recommending specific measures.