Thank you, Kevin.
Changing gears a little bit, Mr. Cross and Mr. Milligan, competitiveness is very important to me. I'm an economist by training. I grew up in a very middle-class humble background in northern British Columbia, but I had the privilege of working on both Wall Street and on Bay Street. I understand what risk takers and small businesses or large corporations do every day.
In the fall economic statement we brought in the accelerated investment incentive which now implies an effective marginal tax rate for investing a dollar in Canada is at 14%, the lowest in the G7. In the United States, it's 18%. Mr. Cross and Mr. Milligan, surely no economist would argue that we follow the path of the United States in doing a deficit-to-GDP ratio of nearly 5% in any sorts of tax measures versus our number, which is around 0.7% of our debt-to-GDP ratio, which is now declining.
First, I'll go to Mr. Milligan and then I'll turn it over to Mr. Cross.