Mr. Speaker, while listening attentively to my colleague's presentation, I got the impression that I was listening to the captain of the Titanic mere hours before the boat hit the iceberg. He says that all is well. The budget has been presented as if there are clear skies ahead.
However, this morning, the American Federal Reserve confirmed the current recession in the United States. As well, the International Monetary Fund announced growth of 0.5% over the next three years in the United States. Given that we know how much the entire Canadian economy depends on the American market, since we export many products to the United States, it is rather surprising that the federal government is not acting.
Hence my question for my colleague about the budget for the year that finished on March 31. How could they have decided to put $10 billion towards the debt and not in any way have offered tools that could help our businesses become more competitive in the manufacturing and forestry industries? They could have announced refundable tax credits or funding to make our products more attractive to Americans. Now, by lowering the GST, they have only encouraged people to purchase more Chinese products.
I may be playing it up somewhat, but I would like to know if my colleague feels a little like the captain of the Titanic. Will he be changing course?