It is really scary. We do not know what will happen in Asia. Anything could happen. I personally think the impact on us will be limited but there is a risk that it could get out of hand. There is also the risk that the Quebec issue could get out of hand, especially with the election there coming up in 1998.
Political events are much harder to predict than economic developments.
I do not want the Federal Government to commit itself in the next budget to a long string of substantial tax cuts when there will have been only one year at best of a balanced budget or a small surplus. Question 3 Audience I am concerned about the government's unfunded liabilities through the Canada Pension Plan and about the prospect of much higher medical expenses as the population ages. On the CPP, I would say that it is in good shape now. Whether you like the way the government has dealt with it or not, it has been put on a solvent footing by those premium increases. There is no doubt that we have to reduce the debt relative to the economy.