First off, I think we probably put too much weight on a balanced budget per se. That's an easy communication tool with the broader public. For an economist, the really important thing is your debt-to-GDP ratio. You're right that the ratio at the end of the budget planning period is pretty much the same as it is at the beginning of the period. We have said this publicly as well. I would have preferred a clear commitment to have a falling debt-to-GDP ratio over time to ensure that we don't have a repeat of the 1970s, 1980s and the early part of the 1990s in this country, when we learned very painful lessons about not having a long-term plan for a fiscal policy. It's a bit of a shortcoming in the budget, which of course could be addressed in future budgets.
On May 17th, 2016. See this statement in context.