As we said, our priority is to eventually have a balanced budget. However, we will do this by respecting the programs available to citizens all over Canada. We will do it without reducing transfers to the provinces for health and education.
It is very important to continue without reducing the programs meant for the people. Moreover, this must absolutely be done without increasing taxes. Also, it is important to send this message out not only here in Canada, but all over the world. Here, in Canada, we will reduce not only the deficit but the debt as well.
Regarding our debts and our economy, the ratio is 31%. We can look at the situation in other countries. I believe in England, the ratio is 66%. In Japan, it is over 100%. I believe that it is 115%. When there are investments and when businessmen and women see an increase in the debt, they understand that it will be impossible to maintain a reasonable tax system.
In the countries that have a higher debt level, they understand that this will create great difficulties for the economy. This is why many world organizations continue saying that Canada's economic situation is not as risky as that of other countries. This is very important for us, especially in order to see investments continue, domestically and from international sources.