Thank you very much. Welcome to the committee, obviously.
Briefly, on this take that somehow we're very negative, just to highlight that, we actually have pretty much the same deficit track as the government. And again, the budget is full of information that provides international comparisons of where Canada is with respect to the G-7. We have low deficits relative to GDP. We have a low net-debt-to-GDP ratio. We've had strong growth in our labour market, so that we didn't have quite as deep a recession as some other countries when you even look at these output kinds of analyses.
We like the fact that we're talking about a deficit here today of $24 billion compared to a deficit of a year ago that was considerably higher. And just a few years ago it was $56 billion. These are really good trends. This is very positive. And March data are pointing to a strong number.