I just want to mention two things. First, it is important to distinguish between the situation in Canada and the situation in a lot of other advanced countries. Our situation is quite different. Compared with other countries, Canada has the lowest debt-to-GDP ratio.
As the governor just said in answer to Ms. Nash's question, there were stimulus measures in the budget in Canada. In 2012, it had already reversed. At page 27, in the English version of the Bank of Canada document, we can see that government contributions were negative. That reflects the reversal of the stimulus effect, but it has now ended. For the 2013-14 fiscal year, there is a government contribution to growth of about 0.3%, which is about half the historical average of about 0.6%.
Second, in the other countries, and especially the European countries, much greater emphasis is being placed on budget austerity. Clearly, some of those countries have no choice. They need to resolve their budget situation. It is also important to note that the urban crisis is not just a budget crisis. It is also a balance of payments crisis. They also need major structural measures to reform their economies and improve competition so they can get back to a growth situation. Growth is also important, to improve the budget situation.
So there are these two aspects. It is important to strike a balance between the two.