I think there's no question about the most compelling example. You can look back and see it in the teeth of the financial meltdown of 2008, when the American economy was reeling and when consumer spending was heavily depressed. There's no question that the reduction in the GST by 29% had a tremendous stimulative effect. It had a direct stimulative effect for Canadian households, for moms and dads who were trying to balance their household budgets.
Economists debate the effectiveness of the GST reduction compared to income tax reductions and things of that nature, but when it was needed, when the world economy was staggering, the GST reduction was 9-1-1 income relief to Canadian families. That should not be forgotten. It's not discussed very often, but it was of tremendous assistance.
With regard to the balanced budget act, we strongly supported the balanced budget legislation in Ontario, in British Columbia, and in Manitoba. It remains the fact that when governments like Manitoba's have done tax grabs and have gone back on balanced budget legislation, they've had to go back to the legislatures of those provinces and gut that legislation over the vocal objections of legislators in those provinces.
We'd like to see balanced budget legislation incorporated in the Constitution of Canada, but until that day comes, a law is a law and it makes a statement. We strongly endorse the government's legislative initiative to put balanced budget legislation on the books in Canada for the first time.