Thank you, Mr. Chair.
Thank you to the witnesses who've taken time to come here and present to us today. We really appreciate all the input you've given.
I'm going to concentrate my questions on Mr. Moody.
Mr. Moody, in the last two years, the Canadian government has added $560 billion of debt to the Canadian balance sheet, and $170 billion of that had nothing to do with COVID. They're trying to base the justification of this on the 50% debt-to-GDP ratio. I'd like you to comment on that.
I'd also like to note that it's up from 30% that was justifiable before the pandemic, and now it's at 50%, and they want to keep it there as if it's a measure to be considered without even considering provincial debt, personal debt or corporate debt as part of that equation.
Can you quickly comment on that metric, please?