Honourable senators, my question is for the Leader of the Government in the Senate and concerns keeping effective control over our finances, which is a very important matter, as is the theme today.

On Monday, the Prime Minister stated that the government’s upcoming fiscal update won’t include a fiscal anchor to indicate to Canadians that the government has put in place a ceiling or cap on its public spending, deficit or debt level. Numerous experts agree that there are many positives in doing so, including, to outline a few: providing a measure of fiscal discipline inside the government, ensuring that the government has the ability to respond to future economic shocks and unforeseen crises — we are nowhere near the end of this crisis, retaining the confidence of lenders and global markets — that’s very important. Also important is creating a positive investment climate for businesses, as they are all going through a very difficult time.

I appreciate that we are in a pandemic and more and more Canadians are relying on government intervention to make ends meet and put food on the table. For many, the government’s various emergency response benefits have been a lifeline, and we should continue supporting Canadians when and where it is possible and required. However, most Canadians also understand that we must operate within a budgetary framework. We don’t know how long this pandemic will last or how quickly our economy will recover.

Senator Gold, many experts and Canadians would feel more comfortable if the government had a fiscal anchor and an actual spending plan in place despite the volatility of the situation — a tool, as I said to Minister Freeland when she was here. A dynamic tool that could be moved.

Here is a question and a challenge: Can you influence or encourage the government to include a fiscal anchor in its upcoming economic update in order to give us a sense of direction, as most experts would like, and to keep an effective control over our finances while continuing to support Canadians?