Mr. Speaker, the member probably knows that whatever happens in the United States eventually spills over to Canada within six months to a year.
The member is also probably aware that there are people in the United States who are concerned about a double-dip recession. There is $1.3 trillion in commercial loans coming due fairly soon. The commercial real estate market is collapsing in some areas. There is a freeze on credit for small business. The banks are classifying commercial loans as risky and are being very conservative. Manufacturers cannot get lines of credit.
In fact in 2008, for the 400 largest U.S. contractors, 80% of their business was in the private sector. That has now changed and the 400 largest U.S. contractors are doing 80% of their business in the public sector, which is great until it runs out at the end of the stimulus package at the end of 2010. Of course, unemployment will rise.
Given that Canada will have to deal with the aftershock and the after-effects of this, what does the government have in terms of contingency plans if a double-dip recession does occur in the United States later this year?