Thank you for the question, Mr. Chair.
I think it's fair to say that we do have a growth problem in this country and a business investment problem, which is obviously linked to productivity. The way to remediate this problem is to have pro-growth policies and a pro-growth framework that allow us to grow our economy, so that we can do all the good things that I think people around this table want to do for our economy and for Canadians.
In the absence of growth and in the absence of productivity enhancement in this country, unfortunately we'll just do deficit financing on every new measure. That leads to more debt servicing and to governments at some point making hard decisions on program cuts or raising taxes, which would decrease business investments.
The other thing I would say is that we live in a very competitive world. The U.S. has moved aggressively on the IRA. It has led to huge business investments. Here, I would say that we're still very tentative. All these tax credits the government put forward for the green transition are yet to be implemented. I cannot stress enough how important it is that we compete on a level playing field that allows business investments to grow.
Therefore, we need more business investments to do all the good things that we need to finance.