This was clearly unsustainable. And so between 1993 and 1997, governments in Canada made a determined, and successful, effort to eliminate their deficits. This fiscal adjustment helped improve the credibility of our economic policies and reduced the risk premium on Canadian bonds demanded by investors.
A deal has been agreed between the UK Government and the European Union, which of course will be tested in the next election. The worst-case scenario of a no-deal Brexit in the short term has been eliminated and the uncertainty over it is fading.