Thank you, Mr. Chair.
I would also like to congratulate and welcome Ms. Ryan.
I'm very pleased to be here to participate in a meeting of this committee for the first time.
It's an honour and a pleasure.
I want to come back to the estimate in the spring economic update that shows a reduction in the projected deficit for this year of roughly $11 billion less than projected through a combination of lower liabilities, increased revenues and generally a stronger economic performance than anticipated, which is great news for Canada.
We know, and you alluded to this in your remarks, that we live in a time of tremendous volatility, and there are many things that can't be predicted.
I'm wondering if you could reflect a bit on whether you see the possibility for continued decreases in the deficit over time, whether it's through commodity prices changing or other factors, either outside or within our control.
I hate to dwell on upside risk, but there is always some, alongside the downside risk. I'm wondering if you could speak a bit to that.