Mr. Speaker, Michael Wilson was also in the very fortunate position of having had a debt of only $250 billion rather than $550 billion.
The absolute spending cuts of $10 billion in the budget just about match the expected increases of $9 billion in the cost of servicing the debt over the projected budget period. The expected revenue increases due to prosperity and tax increases amount to a staggering $12.7 billion.
Does the minister expect similar spending cuts and revenue increases in the next budget to simply maintain the debt to GDP ratio?