As has been discussed really across this table, we think the significant risks to the economic outlook are external in nature, and that's one of the reasons we've seen softening growth projections across the private sector, and certainly by the bank and by us. But we're budget officers, so when we're trying to provide advice to you on fiscal policy, we want to make sure we're having as much focus as we possibly can and make sure we have credible fiscal policy in Canada. It also means looking at the medium and the longer term.
On November 2nd, 2011. See this statement in context.