That's a very tough question, Mr. Chair.
With regard to the challenges for our current finance minister, looking at this pivotal point where we're now back to budget balance with a federal structure that is sustainable, I think there are these opportunities. I think you start filling that framework with what you think some of the major challenges are that we're going to face. I think those challenges are mostly long term in nature.
In terms of over the next few years, I think the recovery's taking place. I think we'll be back to potential output in a few years. Our unemployment will continue to come down. Then the issue becomes, how do we deal with aging demographics? How do we deal with the fact that our productivity rates, certainly business multifactor productivity rates, have effectively been flat? How do we address this issue?
I think the major challenge for the next finance minister will be how we stimulate productivity growth. I think budget constraints will be essential. I think with more transparency around...should we find ourselves in some type of fiscal role, whether it be legal or otherwise, what are those constraints, short, medium, and long term?
I think, again, the productivity challenge would be the number one task. How do we restructure our spending frameworks, our tax system, in order to promote productivity?