Yes. The aging population obviously has an impact on the long-term sustainability of all levels of government in the country, including the federal and provincial governments. However, we find that the federal government, because of the nature of its own spending, is still sustainable.
When we last checked in July, when we last released a report, despite the aging of the population, federal finances were still sustainable, due to the very nature of the government's spending, which consisted mostly of transfers to individuals and to other levels of government.