For us, the debt-to-GDP ratio is a simple and important number. I think that's the case for most people and governments around the world. It's a way to quickly assess whether or not the Government of Canada's current situation is stable. There are two aspects to that number: There is debt, meaning all the payments made in the past, and the size of Canada's economy. For us, this aspect is important because it underpins economic growth.
As I mentioned, in the past, Canada followed what was happening with the U.S. economy, because of the supposed crucial relationship it had with that country. That is no longer the case today. As you know, all businesses are conducting their own assessments. Over the past years and decades, we exported many goods and services to the United States. That will no longer be the case in the future.
We need to restructure and grow our economy to ensure that growth remains high and that the debt-to-GDP ratio stays the same or is reduced. We also have to ensure that people's standard of living remains high and that it rises.