I want to circle back to what my colleague Mr. Poilievre was talking about: interest rates. I really think they're an existential threat to the future ability of the Government of Canada to conduct its business. When we had the Parliamentary Budget Officer on, he said that actually the increase in debt wouldn't increase the draw on the operating budget, because they were able to refinance some of their short-term debt at lower interest rates. The corollary to that would be that carrying costs would have gone down had it not been for the crisis, and carrying costs will go up as soon as interest rates go up. On a trillion-dollar debt, a one-point increase in the interest rate is $10 billion. The interest carrying costs under the 2019 budget were about $23 billion.
I just wonder if there is any planning going on or any thought going on within your department as to how to brace for the coming storm. I would just add that both the governor of the Bank of Canada and the Parliamentary Budget Officer have indicated that their opinion is that interest rates will be going up. Of course, they don't have anywhere else to go.