It's a very interesting question, and it takes me back to the Fiscal Sustainability Report 2020, which I updated a few weeks ago. This report looks at the financial sustainability of the federal government and the provincial and territorial governments over the next 75 years.
It shows that, despite the expenditures related to COVID-19, the federal government is still sustainable over the long term. However, the provinces are not.
Obviously, the first version of this report, which we published several months ago, presented the same conclusions. Following its release, we expected that the discussion would quickly enough focus on the apparent imbalance that exists between the long-term viability of the federal and provincial governments, which would logically have led to an increased transfer of financial resources from the federal government to the provinces. However, this discussion has not yet taken place.
In any case, I believe that the conclusions you have raised in your question are quite correct.