Thank you very much.
I will take a brief second just to qualify what I said to Monsieur Caron. I want to give you an exact understanding of the risk adjustment that we took. The $40 billion is equal to the average downward adjustment in the past three surveys of private sector economists.
Monsieur Caron, I think you were looking for our formula-based approach and how we got to that number, and I just want to be absolutely clear in case I wasn't.
With respect to your question, having had the opportunity myself as well to travel across the country and to talk to Canadians and talk to people from smaller cities and people from larger cities, of course I heard many of the same concerns that you did, that the challenges they face are enormous. That was consistent across the country.
We made commitments that we intend on investing in infrastructure. That infrastructure includes the things that will improve the productivity of the country over the long term, things like transit systems. It includes things that will improve the immediate lives of people, particularly the most vulnerable, such as social housing, affordable housing, and housing for seniors. It also includes investments that we would call green investments such as dealing with the impacts of climate change and waste-water systems.
Some of those investments will clearly be investments we will have to collaborate with municipalities on; social housing and waste-water systems are good examples. Some of them may overlap between provinces and municipalities, so we recognize the importance of collaborating with both those levels of government.
We do want to make sure as we make our investments that we satisfy a couple of goals. We want to make sure that we get incrementally new funding into the economy. We want to make sure that we don't just dislodge funding from other levels of government. We want to make sure that what we do is incremental.
Of course we want to have the maximum possible impact on our economy. By that I mean we do want to seek to get other sources of funding that will also be part of our investments, because we want to have the greatest possible impact on the economy and the greatest possible impact on Canadians' lives.
Those will be the sorts of initiatives that we will be moving forward on, and I'm confident that Canadians will feel a real impact in their lives over the course of the upcoming years because of these investments.