Mr. Speaker, the Government of Canada collects a touch under 15% of the gross domestic product of the country on an annualized basis. I think it is either 14.9% or 14.8%. Putting aside debt repayments, which are roughly 3.2% of the gross domestic product of the nation, we spend something in the order of about 11.6% or 11.7% of the nation's finances, a large part of which, probably well over 50%, are merely transfers to either other levels of government or to other persons, be they unemployed persons or seniors.
As to the member's point on right to decide, that is why we have elections. In fact, Canadians have endorsed this government four times in a row in terms of a balanced approach. It seems to me that we are doing something right.
As to the issue of economic forecasting, the government retains something in the order of between 15 and 19 of the senior economists of the country, and there are not that many. They give the government their predictions, going forward for the next two or three years, on inflation, on interest rates, on GDP, et cetera. Those numbers are then given to four econometric modellers who put it through their computer calculations. After some negotiations among the modellers, that produces the projections that the government relies on going forward in its predictions.
That process is fairly open and transparent. I know the finance committee wants it to be more open and more transparent. In fact, that will happen. However, we deal with essentially the same people. What the Bank of Nova Scotia economists tell the finance committee will be exactly what they tell the Government of Canada. I do not know what will be the difference in the product in the end, other than there might possibly be some more openness. It is now a fairly open process.