Madam Speaker, I thank my colleague from Westmount for his remarks. He exclusively emphasized the new spending initiatives announced in the budget but neglected to address the larger economic context in which we now find ourselves and which the budget failed to address. The budget did not address the fact that Canada is in a recession; that unemployment is going up; that our dollar has reached a record all time low; that our standard of living and labour productivity continue to significantly lag below the levels of our major economic competitors, particularly the United States; and that we continue to have the highest income tax burden and second highest debt burden in both the G-7 and the OECD.
Will the hon. member comment on whether he believes it is adequate for the government to simply increase spending and do nothing in the budget to address Canada's disproportionately large tax and debt burdens? Is he at all concerned about the judgment being passed by international currency markets on the economic policy of the government in the form of our 62 cent loonie?