Finance committee  That's definitely the reason for moving toward balance as quickly as possible without interrupting the economic momentum. But while it is serious--and serious in terms of the accumulated deficits that the provinces have racked up that also need to be addressed--in our country net

Finance committee  My sentiments echo Mr. Burleton's. In the U.S. right now, there's also an issue of the velocity of money. It's actually fallen so low that as they've put more money into the system, it doesn't seem to have much impact. It's almost like the “pushing on a string” type of analogy.

Finance committee  That's an extremely interesting question, one that we should deal with. We have not dealt with it, and it would obviously vary by industry.

Finance committee  The initial reason I brought it up is that the U.K. is facing such severe austerity and yet they've made the conscious decision that for some capital projects, some of their science and research budgets, they would protect those simply because they have to maintain a longer-term

Finance committee  Thank you very much. My reference to the households was not in terms of this being a situation anywhere akin to what's happened to the U.S. Our whole banking and mortgage system is entirely different and has a much more solid underpinning. It was more that as we look out over t

Finance committee  Initially, back when the dollar started to climb, 90¢ was considered very high. A number of our industries made different representations about how difficult it would be to compete with a dollar that was over 85¢. In this particular instance, our work in Scotia economics was focu

Finance committee  I spoke out of turn, I suppose. When I made the comment about the 95¢ dollar, I was making reference to the fact that initially back 15 years ago, when we were talking about a dollar going to 90¢ or 92¢, there were studies that indicated that things like our motor vehicle parts

Finance committee  First of all, it's my opinion, not the Bank of Nova Scotia's.

Finance committee  Thank you, Mr. Chair, for the invitation to speak today. I'd like to echo the theme of uncertainty, and also the volatility that we think will continue in both foreign exchange rates and financial markets. We had such a strong initial rebound for Canada that this slowdown is on