In terms of measuring the probability of the government respecting its anchor of a declining deficit-to-GDP ratio, that's actually based upon an IMF framework looking at the historical shocks that have faced the Canadian economy going back over the past 30 years. When we face those shocks, how severe are they, and in that context, is the government going to still be able to respect those anchors?
Again, it's not to say that they can't, and, going back to the question around fiscal sustainability, it's not to say that the government is not fiscally sustainable, but it is to say that there's a lot less room than there used to be. The next time there's an economic shock—and there will be, and economic shocks can mean recessions, pandemics and the terrorist attacks of 2001—there will be far less fiscal space than we had previously.
