Finance committee  The current stock of debt at the federal level is $691 billion.

Finance committee  To that you need to add the crowns—

Finance committee  —which is $276 billion.

Finance committee  I don't have it with me, but—

Finance committee  Yes, of course.

Finance committee  Of course, we have that.

Finance committee  I don't have the number for this year, but for 2016, the average rate for our borrowing program was 0.6%, so 60 basis points.

Finance committee  Yes, 0.6. The overall interest rate of our total stock of debt at the federal level is around 2% right now, so 200 basis points. The overall cost of our debt, on average is around 2%.

Finance committee  No, not 2% of our budget. I'm talking about the interest rate cost. As a share of our budget spending, I'll need to check that number, but it's not something I would be....

Finance committee  It's $691 billion.

Finance committee  I'm talking here about the Canadian government and crown corporation market debt, which is different from public debt. Public debt includes the government's debt and financial needs for pensions that aren't already fully accounted for by a debt program. Therefore, this figure isn

Finance committee  Your calculation is missing the financial needs for the next three years. The federal government has a public deficit and other needs in relation to the debt payments, which amount to $103 billion, in total, over the next three years. We must then add the amount already included

Finance committee  Exactly.

Finance committee  It will be more transparent in the sense that the public can now know the facts, since the facts will be reported at least once every three years. Under our current system, only the marginal increase in the debt is reviewed each year. It may be slightly more difficult for Canadi

Finance committee  The limit would be raised through the borrowing authority. Essentially, it would be a legislative process, so it should be tabled in Parliament.