Mr. Speaker, Canadians will be very surprised to learn all of a sudden that we have lower taxes than the United States. Our taxes federally are at least a third higher than in the United States. That was one heck of a nose stretcher.
The finance minister says that everything is fine and that we can be happy. The chairman of the U.S. federal reserve says that there is zero growth in our largest trading partner. Many major economists say the U.S. is headed into a recession or is in a recession.
It has cut an unprecedented one full point off interest rates in the last month, including today. The markets are not reacting. This could pose a crisis for the economy. What does the finance minister intend to do about it?