Public Accounts committee  Maybe what I could simply review is the Government of Canada's reporting practices in financial matters. We normally table a budget in the early spring, in the February-March period. Over the course of the year, the Department of Finance issues monthly fiscal monitors, such that

Public Accounts committee  I think it's a number of things. I guess I'd start in terms of investment by pointing out that we will soon have the lowest tax rate on new investment in this country of any G-7 country. We'll have a tax rate that is less than half of the current tax rate in the U.S. and well bel

Public Accounts committee  In terms of global recession, this is the largest one since World War II, since the system's national counts were developed. You'd have to go back to the Great Depression. This isn't anywhere close to the Great Depression, but that would be the next most important event globally.

Public Accounts committee  Sure. The total value of the government stimulus package over the two years, 2009-10 to 2010-11, is $46.5 billion. When combined with moneys from provinces that are there to be partnered with federal programs, the total is $61 billion over the two fiscal years.

Public Accounts committee  There has been no change in the methodology. Well, there have been some improvements. Go ahead, Bill.

Public Accounts committee  That is correct.

Public Accounts committee  First of all, the Government of Canada debt is issued primarily in Canadian dollars. However, debt is handled on international markets and at present, approximately 15% of the debt is held by foreigners.

Public Accounts committee  Yes.

Public Accounts committee  That is a good question.

Public Accounts committee  The $11.9 billion figure is accurate. It is the Canada Child Tax Benefit, in other words, a set amount. There is one benefit per child. However, it is indeed curious that the amount is exactly the same as the previous year. According to the forecast for the month of September,

Public Accounts committee  I think we just need to verify that the $11.9 billion for 2008-09 is correct.

Public Accounts committee  I can answer that. The debt has decreased by approximately $100 billion over the last 10 years. The government foresees a deficit of about $56 billion for the current fiscal year and approximately $44 billion for 2010-2011. Thereafter, forecasts show that deficits will decrease i

Public Accounts committee  The unmatured debt has gone up by $120 billion—and that is recorded in the government's liabilities—but it is offset by a roughly commensurate increase in assets. The reason is that the bulk of the increase in that unmatured debt is due to, one, the purchase of mortgage-backed se

Public Accounts committee  I'm sorry?

Public Accounts committee  Is this the employee vets? Is that what we're talking about?