Mr. Chair, I am pleased to confirm that we did work together to come up with a prudence factor in the budget. We looked at the previous private sector economists' forecasts. We realized that they had repeatedly been marked down in the subsequent rounds and that markdown was on average $40 billion. Therefore, as a prudence factor, we took $40 billion which translates into a $6 billion prudence factor. This is the sort of thing that Canadians expect us to do in order to ensure we start off with an appropriate format for our budgeting and from there, as we have said repeatedly, we are making investments to improve our situation for the future.
In the House of Commons on May 30th, 2016. See this statement in context.