Well, those are really the bottom end of the range. I have the privilege of being part of the circle of economists who give advice directly to finance ministers, and I told Mr. Morneau that he was the eleventh minister in my career. I was surprised, in fact, by how cautious some of my colleagues were with their forecasts.
We were actually at the higher end of the range, so a real economic growth forecast around 1% wasn't that far below the bottom of the band; it was kind of forming the bottom of the band.
I do think it's prudent to build some contingency into the budgets on a going-forward basis. Historically, finance ministers have often had a contingency reserve between $3 billion and $5 billion on a budget of $275 billion or $280 billion in spending. That's a very, very thin margin when you can't control revenues.
The federal government can control spending; it can't control revenue. That's really very much driven by the growth path of the economy. So as a matter of good practice, I think building a bigger contingency in is the prudent thing to do. How you do it is open for debate. I would probably advise to put it right into the budget as a reserve, but Mr. Morneau chose to be prudent, and I have a hard time taking exception to that.