I'm going to make a Mr. Mulcair of myself by saying I find it somewhat embarrassing to hear a representative of the Department of Finance say
“my mental math may be slightly off”.
One of you said that the account managers have a mandate to be profitable. So profitability will be measured. We seem to be getting ready to make a gift to this account. There's a difference between what the budget officer has told us and what's on the table right now. We've changed our minds. In the first two years of deficit, no interest will be charged, and in accordance with the principle of concordance—and I see the logic of finance—no interest will subsequently be paid.
At one point, as you emphasized, the deficit in the first two years will be stopped. That deficit was created because the $57 billion surplus, which had accumulated since 1995, incidentally, was withdrawn. The account managers have a mandate to ensure it is profitable, but how will we evaluate their performance when the surplus won't provide them with any interest? They obviously won't be paying interest during the first two years of deficit, but there's only one choice in order to ensure the account's profitability: increase the premiums. Is my accounting and financial logic correct?