With the recent possibility of a reduction in revenues--for example, the GST by $5 billion and another $5 billion coming--do we have any perceived idea in terms of whether we can maintain at least a balanced budget or a surplus? Could the opposite effect happen, that instead of having a surplus of $13 billion or $17 billion, suddenly we go under by $10 billion? You seem to think that revenues.... We look at the economy right now, and it appears that the last quarter hasn't been good, and there's a possibility, with the rising Canadian dollar and our trade relationships.... With the amount of tax relief that's been offered in our recent statements, could we be caught in the next year with a deficit instead of a surplus ?
On November 20th, 2007. See this statement in context.