Mr. Speaker, my questions are for the Minister of Finance.
Everyone knows that social spending, broadly defined, takes up about 70 per cent of all program spending. Therefore, budget balancing requires social spending cuts, not as a matter of Ideology but of simple arithmetic, to use the words of the Minister of Finance.
Does the Minister of Finance agree that yesterday's announcement by Moody's was caused by the absence of a clear commitment to substantial social spending cuts?