Mr. Speaker, my question is directed to the Prime Minister.
Economists and financial analysts are practically unanimous in saying that the falling dollar and the increased spread between American and Canadian interest rates are mainly due to the federal budget's lack of credibility. The government has failed to convince financial markets that it is determined to fight the deficit and put public finances on a sound footing, and taxpayers are paying for this with increased interest rates.
Does the Prime Minister agree that the rise in interest rates as a result of the Bank of Canada's decision to stop the dollar from sliding further is mainly the result of a negative assessment by financial markets which are disappointed in the deficit reduction measures proposed in the budget?