To the first part of your question, when it comes to Canadian competitiveness, there are other rankings, for instance, the World Economic Forum's ranking where Canada ranks 12th in the world.
I think you're very right. One of the reasons that people do invest in Canada is the level of talent and skills in this country. If you look at some of the other rankings, for instance, from the Swiss business school, IMD, one of the best business schools in Europe, the bottom rankings for why people invest in Canada are our tax system, our regulatory system, and in some ways, R and D investments as well as our R and D spending. These are other aspects of competitiveness that a lot of investors, a lot of businesses look to when they're looking at where to invest, when it comes down to it.
When it comes to the fiscal situation in Canada, when it comes to debt to GDP, I would say that there are a couple of aspects here. First, for debt to GDP, there's a numerator and there's a denominator. While the economy is doing well, it looks great, but it can deteriorate very quickly if we hit economic headwinds, and that is problematic. Keep in mind that it can change very quickly. Also, as Ian mentioned, we need to look at the federal debt and provincial debt together.
I think that when it comes to the business community, our feeling on this is that there's no plan to get back to balance. A detailed plan with timelines is really what the business community is looking for.