Certainly.
Let me start off by saying that good news is good news. What we did see in the spring economic update was that, on balance, many of the economic indicators that are critical for government finances came in stronger than had been forecast. There's an important distinction there to say that the economy remains tenuous, there's a lot of headwind and so on.
To the extent that those estimates came in better than had been forecast in the November 2025 budget, that is good news. In a sense, it's secondary good news because it indicates that the government had built a certain amount of prudence into those forecasts that it presented in November 2025.
In terms of upside risks, I think it's also fair to say that the government has presented its strategy of spending less to invest more as essentially a growth agenda that would grow GDP so that the debt that's incurred would be over a larger denominator—a bigger pot. To that extent, if that strategy plays out as expected, then there's certainly upside risk built into the strategy, additional to upside risk that maybe the world turns out to be not so bad.
I think that answers your question.