I wasn't here yesterday, obviously, to hear Governor Poloz with his comments, but I think what he was identifying was that when a government cuts back, as we're seeing happen in Ontario, it has a direct impact on the economy, which should not be a surprise to anyone.
Let's think back to the 2015 election when the Conservative Party and the New Democratic Party were both arguing for immediately balancing the budget. What they would have found was that they would be taking a lot of money out of the economy. In our estimation we should have been putting money into the economy.
It's no surprise that when you take money out of the economy, the economy contracts. We see those cuts in Ontario as cuts that are going to have a real impact on people, obviously, in myriad ways. Obviously, it will have a big impact on the students who won't have their student loans. For the travellers who won't have the ability to have health care provisions when they leave the country, that will have a real impact on them.
Our view is that we need to continue to be fiscally responsible, reducing our deficit and reducing our debt as a function of our economy over time. That's critically important, but we can do that while investing in people. We can do that while making sure that families are successful. We can do that while ensuring that our employment statistics and the real advantage of people being in jobs continues.
That balanced approach is our government's approach. Demonstrably it's working. We'll do that while we see places like Ontario make cuts.