We think the current fiscal structure for Canada is not sustainable when you look to the long term. So we will have to change the current fiscal structure to make it sustainable.
In work we did earlier in the year, sir, for our fiscal sustainability report, when we projected forward and looked at those issues of trend productivity, growth rate, and what's happening to labour input, depending on what your assumptions are for the transfers, which Mr. Poschmann has raised, you're looking at a fiscal gap for Canada of between one and two percentage points of GDP.
What I mean, sir, is that to maintain a stable debt-to-GDP ratio of roughly 33% and to build in, forward looking, for the next 75 years, the aging and the demographics, you'd have to take fiscal action in the neighbourhood of one to two percentage points of GDP.
When you're talking about 2015-16, you're talking about a $2 trillion economy. Every point of GDP is roughly $20 billion, and that has to be sustained, sir, to eliminate that fiscal gap. That's a calculation other countries regularly do, and in fact are legislated to do.