Mr. Speaker, the Department of Finance conducts regular projections of Canada’s financial situation and outlook, which cover the medium term outlook, i.e., the next five fiscal years. Two year fiscal projections for 2006-07 and 2007-08 were published in the budget presented to the House of Commons on May 2, 2006
In addition, in preparing for the economic and fiscal update to be released in the fall of 2006, the Department of Finance is preparing five year fiscal projections to the year 2011-12, based on the average of private sector economic forecasts. Private sector forecasters have also been hired to prepare five year projections of the government’s financial situation.