Thank you very much, Mr. Chair.
It's a pleasure to be at the mighty OGGO. We have to make sure we get that on the record for Hansard.
Mr. Jacques and your team, thank you for showing up. I appreciate your work.
With it being well over a year since we've had a budget, it's nice to have some picture as parliamentarians for, as you say, setting the table for what's to come.
I hope to make sure I understand some of the assumptions you've made so I understand your very sobering testimony. I thank you for mentioning how serious a moment we're in, fiscally.
If I look at appendix A, titled “Detailed economic outlook”, you're not forecasting a recession. Is that correct? You have unemployment going up in 2025 but coming back down afterwards in 2026 onwards, and you have real GDP growth, which is small, but it's positive, at 1.2% and 1.3% and ongoing.
You're not projecting a recession. Is that correct?