Thank you, Mr. Chair.
Thank you for attending today.
My first comment is in relation to Monsieur Seccareccia. I just wanted to make a comment. I disagree with you in relation to the success of our economy right now. I agree that it's in relation to oil, but it's also in relation to the oil sands, which are in my riding, and it's in regard to innovation, to patents. More patents come out of that area than all the rest of Canada combined.
So it's about persistence and hard work in a resource that really is a manufacturing resource; it's not just a pump-out like Saudi Arabia. I think that makes a big difference. As you can tell by the cost to produce it, it costs about 10 times or up to 15 times more than it does in Saudi Arabia. So I think it's about Canadian persistence and a real success story.
I want to ask a question in relation to the inflation-targeting system, keeping in mind two specific questions.
First of all, what fiscal policy can we adopt to reduce debt for Canadians? That's obviously ignoring the first one, which is increasing interest rates, which will encourage people to pay it off quicker but of course will encourage their debt.
Secondly, the fiscal policy to balance.... Keeping in mind that I'm from Fort McMurray, if we have 3% unemployment, I can't find that 3% of the people. There are fiscal and unemployment differences regionally across this country. How do you set fiscal policy, especially regarding the inflation-targeting system, keeping in mind the differences across the country?
In Saskatchewan, where Mr. Hoback is from, and in Alberta, where I'm from, we don't have problems with people being unemployed. Finding labour is just about impossible. I've been running businesses there for 30 years and I can assure you that with those bonuses to work in car washes, like I have to give--about $10,000 to keep one employee--it's very difficult indeed. How do we balance that fiscal policy, keeping in mind the inflation-targeting system of the central bank?