Thanks very much, Chair. Thank you, Monsieur Giroux, for being here with us today.
I'd like to go back to Canada's fiscal position.
The budget that was introduced projects a declining deficit, getting down to, I believe, $8.4 billion in fiscal year 2026-27. I think there's a conscious effort behind these numbers, and certainly the decisions being proposed in the budget to achieve those numbers demonstrate the government's commitment to seeing the debt-to-GDP ratio decline. I think you spoke about that a little bit in your interactions with Ms. Chatel.
On April 28, S&P Global Ratings reaffirmed Canada's AAA credit rating. They noted S&P Global Ratings' “view that Canada's high wealth, economic diversification, and ample fiscal and monetary buffers are helping the country recover from the impact of the COVID-19 pandemic, and leave it well-positioned to face future potential shocks.”
Mr. Giroux, my question is this: Do you agree with this assessment by S&P?