Thanks very much, Chair.
Thanks very much, Minister, for being here with us today.
Before I get into my questions, I want to address something MP Hallan raised. We know that inflation is global in nature. We know that because we know that countries around the world are experiencing it. We know what those causes are. Countless credible, objective economists and experts—people who have studied this—have said that there are a number of causes. Two of the key ones are the supply chain bottlenecks that resulted post COVID-19 lockdowns and the war in Ukraine, which has particularly caused the price of food and energy to go up around the world. These are global markets for food and energy, and therefore cost increases in one part of the world result in cost increases in other parts of the world.
We know what's causing inflation. We know it's global. We know that inflation in Canada is lower than in most of our peer countries. Therefore, we know that Mr. Hallan's assertion, and the Conservative assertion, that somehow inflation is homegrown is completely untenable, illogical and counter to the facts.
I just wanted to share that perspective with you, Minister.
As I listened to you deliver the fall economic statement in the House, it was clear that you presented a plan that was meant to grow the economy, create opportunities for Canadian workers, attract investment and work on increasing productivity in Canada while also providing relief to Canadians—which you spoke to in your opening remarks—who are struggling with the increasing cost of living to pay their bills.
There are a number of policies in the fall economic statement. I won't cite them all, but there are a few highlights that I think are important for my constituents in Etobicoke Centre. I think about the elimination of the interest on Canada student loans. I think about the first-time homebuyer savings account, which gives first-time homebuyers the ability to save up to $40,000 tax free. I think about the introduction of the anti-flipping tax, which is of particular relief to many in my community. I really think it's important that all of us, on all sides of the House, particularly on this committee, work hard to get these measures passed as soon as possible so that we can get this assistance and support to Canadians who are struggling with inflation as soon as possible.
Minister, many of my constituents have told me that they want us to be there to help Canadians through this difficult time, but they also want us to spend within our means and be fiscally responsible. Could you share with us the metrics that you think are the most useful in evaluating our fiscal health? How are we performing on those metrics in comparison with our past performance but also in comparison with countries around the world?