Thank you, Mr. Chair.
Thank you all for being with us as we study Bill C‑4.
I said earlier, at the outset, that this bill essentially incorporates three commitments made by the Conservative Party: income tax cuts, GST rebates on new homes, and the elimination of the carbon tax for consumers. We would have liked to have gone further, but it's already a step in the right direction.
However, we see a problem. We were talking dollar for dollar. For every dollar spent, there had to be a dollar saved. However, that's not what we're seeing right now. Before spending money, we should have had a budget, which we did not.
I'll start with you, Mr. Moody.
You're an accountant. You write about tax measures. I would like you to tell me what you think of the Parliamentary Budget Officer's comments when he tells us that the most important fiscal anchor is the debt-to-GDP ratio, that the government isn't on track to meet that fiscal target, that this is the first time in 30 years that there has been a ratio projected to increase in this way, that the path we're currently on isn't sustainable and that everyone should be concerned.
I, for one, am concerned. I would like to know if you are as well.