Mr. Speaker, I thank the hon. member for his generous and kind words. The tax reductions committed to by the government will be of great benefit to our country. I heard a great deal about it during the election campaign in my riding of Halifax West. Many people in that area were concerned about the level of taxation and were anxious to see taxes lowered. They are very pleased to see that as of the first of this year tax cuts have already begun. These tax cuts will continue over the next five years and amount to a total of $100 billion. That will be a lot of dollars back in our pockets and it will help the economy.
Many Canadians are concerned right now as they watch the U.S. economy. The government is also concerned about the slowing of that economy and will watch it closely. However, it is important to note that our economy remains very strong and in good shape. The fact that we are having these tax cuts at this particular time will help to strengthen our economy and encourage people to spend, buy products and support the economy.
I think we will probably see interest rates come down some more over the next year. That will also boost the economy. I think we can expect a soft landing. There are many other factors, but I think we are near very good things with more good times ahead.