16 October 2008

PM Gives Update on Economic Action Plan

The following was reported by the PMO on 16 October 2008.

Prime Minister Stephen Harper today reiterated that protecting the Canadian economy is his top priority, and detailed further action being taken by the Government in response to the global financial crisis.

“The No. 1 job of the Prime Minister of Canada is to protect this country’s economy, our earnings, our savings, and our jobs, during a time of global economic uncertainty,” Harper said. “The mandate we received allows us to continue moving forward.”

The Prime Minister outlined the following additional, immediate next steps to protect the Canadian economy:

1. A commitment to take whatever appropriate steps are necessary to ensure that Canada’s financial system is not put at a competitive disadvantage.

2. Discussing the global financial crisis and strengthening the Canada-EU economic partnership at Friday’s Canada-European Union Summit.

3. Summoning Parliament to meet this Fall and tabling an Economic and Fiscal Update before the end of November.

4. Participating in the G20 finance ministers’ meeting, November 8-9, and calling for a further meeting of G7 finance ministers to build on progress made at their last meeting.

5. Keeping government spending focused and under control by continuing with the four-year Strategic Review of departmental expenditures.

6. Convening a First Ministers’ Meeting on the Economy to discuss with premiers and territorial leaders a joint approach to the global financial crisis.

“Canadians’ worries are understandable,” the Prime Minister said. “But I want to assure Canadians that together we will weather the storm, and we will position our economy to emerge stronger than ever.”