Ontario's economy is being confronted by both cyclical and structural economic forces. On the cyclical front, we have the marked slowdown in the U.S. economy. This has had a direct impact on the province's forest products industry – from lumber, to doors, windows, and building materials generally – and on the automotive industry.
I am very pleased to be the keynote speaker in your annual corporate planning and budgeting conference. As former Budget Secretary, I understand the importance of planning and budgeting to the continued growth of an institution.