Mr. Speaker, the hon. member for Durham brings up a very important question. It has been the policy of the government to bring the fiscal health of the country back to a reasonable level, and we have done so.
The rating agencies have provided Canada with an upgrade on its short term debt which reflects the improved deficit position. More important, it reflects the improved economic conditions in the country. The DBRS provided us with a mixed message. It complimented us on the efforts in reducing the deficit and it noted that we have both low inflation and an improved current account balance which is a very difficult matter to achieve.
Next year we will see a decline in the proportion of debt to GDP. That is a critical milestone and a path to financial health.