Canuck Politics » US financial crisis

Canada may miss deficit elimination target: Flaherty

CanuckPolitics — Wed, 09 Nov 2011 06:59:40 +0000

Tagged: budget deficit, economic recovery, economy, EU financial crisis, Jim Flaherty, job creation, recession, stimulus spending, US financial crisis

Liberal-NDP-Bloc coalition a political threat to economic recovery: Flaherty

CanuckPolitics — Tue, 21 Sep 2010 19:00:56 +0000

Conservative finance minister Jim Flaherty says a potential election and the spectre of an opposition coalition government pose a political risk to the economic recovery.

Under an Ignatief-NDP-Bloc Québécois government, nothing would be safe. No part of our economy would be spared. No taxpayer would avoid the hit.

- Jim Flaherty

Tagged: Bloc Québécois, budget deficit, carbon tax, economic recovery, economy, election speculation, Liberal-NDP-Bloc coalition, recession, tax cuts, US financial crisis

Paul Martin calls for binding global financial regulations, limits to national sovereignty

CanuckPolitics — Thu, 03 Jun 2010 06:59:42 +0000

Former Prime Minister Paul Martin advocated binding global financial regulations and limits to national sovereignty in a speech to the Empire Club and Canadian Club in Toronto.

A voluntary process of global coordination will lead nowhere. In short, if there is anybody who thinks that the voluntary subscription to global standards will be sufficient, then I’d like to introduce them to the tooth fairy.

- Paul Martin

Related Videos:

Stephen Harper’s ‘enlightened sovereignty’ and humanitarian agenda (January 28, 2010)
Prime Minister sets five priorities for G20 summit in Toronto (March 18, 2010)

Tagged: financial regulations, foreign affairs, G20, globalization, national sovereignty, Paul Martin, US financial crisis

Completely free markets are unstable: Harper

CanuckPolitics — Fri, 30 Apr 2010 06:59:29 +0000

Stephen Harper says the G-20 has become the steering committee for the global economy, and that such global governance is required to prevent instability created by the free market.

A completely unregulated, ungoverned market, a market without governance, is unstable. And to the extent we now have a truly globalized economy, we need some semblance of a global governance …

We’re not talking about world government. I don’t think anybody is going to come in and say we’re prepared to surrender our sovereignty to the G-20 or some other body. But what they are going to say, in practice, is that we have to coordinate our policies to create stability for all of us.

- Prime Minister Stephen Harper

Tagged: economic recovery, economy, enlightened sovereignty, financial regulations, foreign affairs, G20, G8, national sovereignty, open markets, Stephen Harper, US financial crisis

Harper defends Keynesian response to recession

CanuckPolitics — Fri, 26 Mar 2010 06:59:35 +0000

Stephen Harper defended his government’s economic stimulus package in response to a recent Fraser Institute report claiming the stimulus had no effect on GDP.

We’re not going to act on the basis of ideology, we’re going to act on the basis of what the economy needs. And that is what we have done.

- Stephen Harper

Related Links:

Fraser Institute: With all due respect Mr. Harper, you are wrong. Stimulus spending doesn’t work

Tagged: economy, Fraser Institute, recession, Stephen Harper, stimulus spending, US financial crisis

Stephen Harper’s ‘enlightened sovereignty’ and humanitarian agenda

CanuckPolitics — Thu, 28 Jan 2010 09:00:15 +0000

Canadian Prime Minister Stephen Harper urged nations to practice “enlightened sovereignty” in his keynote speech to the 2010 Wold Economic Forum in Davos, Switzerland.

Notions rooted in a narrow view of sovereignty and national self interest must be reconsidered. We cannot do business as though for one to have more, another must have less. That is not true, it is not just, and it cannot be the path we take.

Our ambition … must be a shared belief that the rising tide of recovery must lift all boats, not just some. This is the exercise of soverignty at its most enlightened.

- Stephen Harper

Related links:

Stephen Harpers article in the Toronto Star: G8 agenda: Focus on human welfare
Full video: Stephen Harper’s keynote address at the 2010 World Economic Forum

Tagged: economy, enlightened sovereignty, foreign affairs, foreign trade, G20, G8, humanitarian aid, maternal & child health, open markets, Stephen Harper, US financial crisis

The G20 saved the global economy: Harper

CanuckPolitics — Sat, 26 Sep 2009 07:59:36 +0000

Stephen Harper says cooperation among the G20 economies was instrumental in averting an economic disaster as the worst of the global financial crisis seems to have passed.

If these measures are enacted and we continue to move forward with the G20 process, we will have the kind of global governance that is necessary to ensure the stability and transparency of markets, in a way that gives us the benefits of a globalized market economy without the enormous risks that we have experienced the last few years.

- Stephen Harper

Tagged: economy, enlightened sovereignty, financial regulations, G20, G8, globalization, recession, Stephen Harper, US financial crisis

Harper urges Obama for ‘Buy American’ exemption

CanuckPolitics — Thu, 17 Sep 2009 23:00:41 +0000

September 16 and 17, 2009 - Stephen Harper delivers an anti-protectionist message at meetings with President Obama in Washington and business leaders in New York.

We know that a dynamic market economy does require governance. Now we’re not going to create a world government, but we do have to have the countries of the world come together and look at global problems together, and look at the global economy as a system.

We have to start to look at things … from a more enlightened view of our national interest that understands that if we don’t think globally, and think about global solutions, if we all simply work on national solutions, we are going to continue to have these kinds of problems.

- Stephen Harper

Tagged: Barack Obama, Canada-US relations, enlightened sovereignty, financial regulations, foreign affairs, foreign trade, protectionism, Stephen Harper, US financial crisis

Flaherty projects deficits until 2015 as economic recovery takes hold

CanuckPolitics — Fri, 11 Sep 2009 07:59:17 +0000

Finance Minister Jim Flaherty says Canada will run deficits until budget year 2014/15, two years longer than originally projected.

Opposition parties say Flaherty is incompetent and cannot be trusted. Liberals promise their alternative plan will be unveiled during the next election.

Links:

Update of Economic and Fiscal Projections (September 2009)

Tagged: budget deficit, economic recovery, election speculation, federal budget, Jim Flaherty, Joe Volpe, John McCallum, stimulus spending, US financial crisis

Government defends $50 billion deficit

CanuckPolitics — Fri, 29 May 2009 07:59:44 +0000

May 26 to 28, 2009 - Finance Minister Jim Flaherty says Canada’s 2009/10 budget deficit will grow to over $50 billion, about 50% higher than the $34 billion deficit projected in January.

Liberals demanded Flaherty’s resignation for ‘gross incompetence’.

The government defended its deficit, saying it is necessary during a recession and affordable given Canada’s favourable fiscal position relative to other leading economies.

Links:

The Economist: How indebted rich countries will be in 2014

Tagged: Bob Rae, budget deficit, economy, Jim Flaherty, Michael Ignatieff, Ralph Goodale, recession, Stephen Harper, stimulus spending, US financial crisis

Ignatieff demands 360 hours for EI eligibility

CanuckPolitics — Wed, 27 May 2009 07:59:23 +0000

May 13 to May 26, 2009 – Liberal leader Michael Ignatieff demands a national eligibility standard for Employment Insurance that would allow jobless workers to qualify for benefits after working 360 hours.

Tagged: economy, election speculation, Employment Insurance, Michael Ignatieff, recession, Stephen Harper, stimulus spending, US financial crisis

Prime Minister Harper on Sky News London

CanuckPolitics — Thu, 02 Apr 2009 07:59:45 +0000

Prime Minister Stephen Harper is interviewed on Sky News while at the G-20 meeting in London, England.

Harper rejects a global financial regulator, saying soverign countries will never accept international regulation of their monetary policies.

Tagged: Afghanistan, economy, financial regulations, foreign affairs, G20, India, recession, Stephen Harper, stimulus spending, US financial crisis

Ignatieff clears Senate roadblock to enhanced EI benefits

CanuckPolitics — Fri, 13 Mar 2009 07:59:57 +0000

March 3 to 12, 2009 - Micheal Ignatieff tells Liberal Senators to pass the Conservative budget without any further delay.

Liberal Senators were intending to examine the budget, break it up into several parts, and pass the stimulus measures by March 27.

Stephen Harper and Jim Flaherty urged Liberals to pass the budget immediately so unemployed Canadians can access expanded Employment Insurance benefits.

Tagged: Art Eggleton, Don Newman, economy, Employment Insurance, federal budget, Grant Mitchell, Jim Flaherty, Liberal Party, Michael Ignatieff, recession, Senate, Stephen Harper, stimulus spending, US financial crisis

Harper’s optimistic economic outlook

CanuckPolitics — Wed, 11 Mar 2009 07:59:23 +0000

Stephen Harper predicts Canada will emerge from the global recession faster than other countries, and stronger than before.

Canada was the last advanced country to fall into this recession, we will make sure its effects here are the least severe, and we will come out of this faster than anyone, and stronger than ever.

- Prime Minister Stephen Harper

Tagged: budget deficit, economic recovery, economy, financial regulations, foreign trade, recession, science & technology, Stephen Harper, stimulus spending, tax cuts, US financial crisis

Barack Obama visits Canada

CanuckPolitics — Fri, 20 Feb 2009 07:59:49 +0000

President Obama and Prime Minister Harper answer questions from the media during Obama’s first foreign visit to Ottawa.

Afghanistan

Climate Change

Free Trade and Economic Integration

Tagged: Afghanistan, Barack Obama, Canada-US relations, carbon market, climate change, economy, environment, foreign affairs, foreign trade, greenhouse gas, NAFTA, oil sands, protectionism, Stephen Harper, US financial crisis, USA

Coalition dies as Liberals support Conservative budget

CanuckPolitics — Thu, 29 Jan 2009 07:59:36 +0000

The Liberal Party will support the 2009/10 Federal Budget against the wishes of their coalition partners in the Bloc and NDP.

Liberal leader Michael Ignatieff says he is putting the government “on probation” with a budget amendment requiring the government to report back to Parliament in March, June and December.

Ignatieff refused to consult with the government on the creation of the budget, and the Liberals did not include any specific policy proposals in their budget amendment.

I did not consult him in advance, I see no obligation to … I told the Prime Minister very clearly: I’m the leader of the oppostion, he’s the Prime Minister. Its his budget, not mine.

- Michael Ignatieff

NDP leader Jack Layton and Bloc leader Gilles Duceppe say the move effectively kills the Liberal-NDP-Bloc coalition.

Stephen Harper is going to remain in office because Michael Ignatieff has decided to to keep him there.

- Jack Layton

The coalition is dead, its finished, its over.

- Gilles Duceppe

Tagged: budget deficit, confidence vote, economy, federal budget, Gilles Duceppe, Jack Layton, Liberal-NDP-Bloc coalition, Michael Ignatieff, stimulus spending, US financial crisis

Flaherty announces $34 billion deficit, prepared for more

CanuckPolitics — Wed, 28 Jan 2009 07:59:40 +0000

Finance Minister Jim Flaherty announced the Canadian government will return to deficit spending as he tables the first recession budget in over a decade.

The budget includes stimulus spending on infrastructure projects, a home renovation tax credit, and income tax cuts for those earning less than $80,000 per year. The government is expected to run a deficit of $33.7 billion for the 2009-10 fiscal year and $29.8 billion in 2010/11.

Flaherty said the uncertain economic outlook may still get worse, and the government is prepared to for larger deficits if current forecasts prove optimistic.

The budget includes a plan to return spending to a surplus after 5 years, and promises any future surpluses would be used to pay off the debt accumulated from deficit spending during the recession.

Links:

2009/10 Federal Budget

Tagged: budget deficit, economy, federal budget, Jim Flaherty, stimulus spending, tax cuts, US financial crisis

Ignatieff launches scathing attack on Harper

CanuckPolitics — Sat, 24 Jan 2009 07:59:59 +0000

Liberal leader Michael Ignatieff launches a scathing attack on Stephen Harper during his first keynote speech at a luncheon hosted by the Canadian Club of Toronto and the Empire Club of Canada.

Tagged: budget deficit, economy, Michael Ignatieff, Stephen Harper, stimulus spending, tax cuts, US financial crisis

Ignatieff rejects Harper’s budget consultation offers

CanuckPolitics — Tue, 20 Jan 2009 07:59:47 +0000

January 9 to 19, 2009 - Liberal leader Michael Ignatieff says he will not consult with the Harper government on the upcoming federal budget.

The Conservative government invited opposition parties to make specific policy proposals.

Ignatieff refused, saying he will wait and evaluate the budget but not take part in the government’s consultation process.

I’m not writing the budget. I’m not in consultultation with Mr. Harper about the budget … it’s the Prime Minister’s responsibility to write that budget, not mine.

- Liberal leader Michael Ignatieff

Tagged: economy, Michael Ignatieff, non-partisan, Stephen Harper, US financial crisis

New Liberal leader Ignatieff prepared to lead coalition government

CanuckPolitics — Wed, 10 Dec 2008 19:59:51 +0000

The Liberal Party executive have appointed Micheal Ignatieff as the interim leader of the Liberal Party until he is acclaimed at a formal leadership convention in May 2009.

Ignatieff took direct aim at Stephen Harper in his first press conference as Liberal leader, saying he is prepared to defeat the Conservatives and lead a coalition government.

I am prepared to vote non-confidence in this government. And I am prepared to enter into a coalition government with our partners.

- Micheal Ignatieff

Related videos:

Video: Dion attacks Harper at debut press conference (December 14, 2006)

Tagged: confidence vote, economy, Liberal Party, Liberal-NDP-Bloc coalition, Michael Ignatieff, minority government, US financial crisis

Harper prorogues Parliament, makes appeal to federalists

CanuckPolitics — Fri, 05 Dec 2008 06:59:19 +0000

Prime Minister Harper has asked the Governor General to prorogue Parliament until January 26 when the government will present an early budget.

The move delays the government’s likely defeat until it faces a confidence vote on their new Throne Speech.

Harper invited input on the budget from the NDP and Liberals, saying only Canada’s three federalist parties can be trusted to act in Canada’s interests.

The Bloc has every legitimate right to be here, but their game is not about working on the economy to serve the greater interests of the country.

The do have a fundamentally different agenda, and that’s not the agenda of the other three of us … I think that’s a more fundamental difference than whether you are a little more for the market, or a little more interventionist.

- Stephen Harper

The coalition leaders Gilles Duceppe, Jack Layton and Stéphane Dion said they will not support the government, saying its Harper who cannot be trusted.

McKay Political Cartoons: Cracks in coalition starting to show

Tagged: confidence vote, economy, Gilles Duceppe, Governor General, Jack Layton, Liberal-NDP-Bloc coalition, minority government, national unity, political subsidies, prorogation, Stéphane Dion, Stephen Harper, stimulus spending, US financial crisis

Harper dares Dion to face voters

CanuckPolitics — Wed, 03 Dec 2008 06:33:50 +0000

Stephen Harper fights for the survival of his government in a heated session of Question Period.

Related Videos:

Video: Social democrats unite to topple government (December 1, 2008)
Video: Opposition parties move to seize power (November 28, 2008)
Video: Government faces defeat over cuts to political subsidies (November 27, 2008)

Tagged: confidence vote, election speculation, Jack Layton, Liberal-NDP-Bloc coalition, minority government, national unity, political subsidies, Stéphane Dion, Stephen Harper, US financial crisis

Social democrats unite to topple government

CanuckPolitics — Tue, 02 Dec 2008 07:59:34 +0000

The leaders of the Liberal Party, NDP, and the Bloc Québécois signed a power sharing agreement and announced their plan to defeat the Conservative government in a confidence vote December 8.

The coalition says they must seize power from Stephen Harper in order to implement a larger economic stimulus package than the Conservative plan.

The political parties have written to Governor General Michaëlle Jean asking her to install Stéphane Dion as Prime Minister instead of calling an election.

View this document on Scribd

Tagged: Bloc Québécois, confidence vote, economy, election speculation, Gilles Duceppe, Governor General, Jack Layton, Liberal Party, Liberal-NDP-Bloc coalition, minority government, national unity, political subsidies, Stéphane Dion, stimulus spending, US financial crisis

Opposition parties move to seize power

CanuckPolitics — Sat, 29 Nov 2008 07:59:31 +0000

The New Democrats, Bloc Québécois and Liberal Party are working to form a social democratic coalition that would topple the Conservatives and replace them as government.

Related videos:

Video: Government faces defeat over cuts to political subsidies (November 27, 2008)
Video: Harper’s deficit flip-flop (October 7 to November 25. 2008)

Tagged: Bloc Québécois, confidence vote, Conservative Party, Ed Broadbent, election speculation, Jean Chretien, John McCallum, Liberal Party, Liberal-NDP-Bloc coalition, NDP, political subsidies, US financial crisis

Government faces defeat over cuts to political subsidies

CanuckPolitics — Fri, 28 Nov 2008 07:59:43 +0000

Canada’s opposition parties are threatening to defeat the Conservative government over cuts to political party subsidies included in Finance Minister Jim Flaherty’s economic update.

Flaherty says the federal budget will go into deficit after accounting for the planned economic stimulus spending agreed by the G-20 nations.

We cannot ask Canadians to tighten their belts during tougher times without looking in the mirror. Canadians have a right to look to government as an example. We have a responsibility to show restraint and respect for their money. Canadian tax dollars are precious … Today, our Government is eliminating the $1.75-per-vote taxpayer subsidy for politicians and their parties, effective April 1, 2009.

- Finance Minister Jim Flaherty

Tagged: Bloc Québécois, Bob Rae, confidence vote, Conservative Party, economy, election speculation, G20, government subsidies, Green Party, Jack Layton, Jim Flaherty, Liberal Party, Liberal-NDP-Bloc coalition, Michael Ignatieff, NDP, political fundraising, political subsidies, stimulus spending, Thomas Mulcair, US financial crisis

Harper’s deficit flip-flop

CanuckPolitics — Wed, 26 Nov 2008 07:59:51 +0000

October 7 to November 25, 2008 - During the federal election Stephen Harper promised to never run budgetary deficits, but has since backed away from his promise in the face of uncertain economic conditions.

We will not be running a deficit. We will be keeping spending within our means, it is that simple.

-Stephen Harper, October 7, 2008

Balancing the budget by raising taxes, by cutting essential government activity, or by refusing necessary intervention in the midst of a global economic crisis would be a cure worse than the disease.

- Stephen Harper, November 20, 2008

There are occasions when defitis are not necessarily bad, but essential.

- Stephen Harper, November 23, 2008

Tagged: budget deficit, economy, Governor General, Michaëlle Jean, recession, Stéphane Dion, Stephen Harper, stimulus spending, US financial crisis

Parliament’s new spirit of cooperation?

CanuckPolitics — Tue, 25 Nov 2008 07:59:23 +0000

November 18 to 24, 2008 – The 40th session of Parliament opens with all political parties promising a new spirit of cooperation. Despite this, opposition members set a confrontational tone in Question Period.

Tagged: budget deficit, economy, Jack Layton, Jim Flaherty, Martha Hall-Findlay, non-partisan, Stéphane Dion, Stephen Harper, stimulus spending, tax cuts, US financial crisis

Election 2008 Federal Leaders’ Debate (Full Video)

CanuckPolitics — Fri, 03 Oct 2008 06:59:30 +0000

The five federal party leaders debate the election issues in the English language debate.

Tagged: 2008 federal election, Afghanistan, carbon market, carbon tax, Conservative Party, economy, Elizabeth May, environment, foreign affairs, George Bush, Gilles Duceppe, Green Party, greenhouse gas, healthcare, immigration, Jack Layton, Kyoto Accord, law & order, leaders debate, Liberal Party, majority government, minority government, national unity, NDP, new Canadians, political fundraising, recession, Stéphane Dion, Stephen Harper, US financial crisis

Is Stéphane Dion cheering for a recession?

CanuckPolitics — Sat, 27 Sep 2008 06:59:35 +0000

September 10 to 26, 2008 - Prime Minister Harper says Liberal leader Stéphane Dion is trying to undermine confidence in the Canadian economy while “sitting on the sidelines virtually cheering for there to be a recession”.

Our economy has hit a brick wall … the tough times are already here.

- Stéphane Dion

Our government will not preside over disastrous financial policies … I would rather lose an election and i would rather lose a vote in Parliament than do something that I know would put the Canadian economy into deep jeopardy.

- Stephen Harper

Links:

Video: Stephen Harper’s economic plan

Tagged: 2008 federal election, budget deficit, economy, recession, Stéphane Dion, Stephen Harper, US financial crisis

Harper to call early election despite fixed date

CanuckPolitics — Wed, 27 Aug 2008 06:59:57 +0000

July 30 to August 26, 2008 - Prime Minister Stephen Harper appears ready to call a federal election this fall despite the fixed-date election law passed by his government. Harper cites opposition threats and parliamentary deadlock as grounds for an early election.

Liberal leader Stéphane Dion criticized Harper for breaking the spirit of his own fixed election date law, yet continued his threats to defeat the government sometime before the fixed election date in October 2009.

The cash-strapped Liberal Party was widely expected to defeat the government when the House returns this fall, but only after they receive a $2 million rebate paymet from Elections Canada in October.

Dion unveils Liberal "Green Shift" carbon tax

CanuckPolitics — Fri, 20 Jun 2008 06:59:38 +0000

Liberal leader Stéphane Dion announced details of the Liberal Party’s Green Shift carbon tax at a party rally in Ottawa.

The plan includes a tax on carbon emissions against big polluters with tax cuts and rebates for individuals intended to offset increased energy prices caused by the tax.

Dion later challenged Harper to a public debate saying he wants a substantive discussion on the issue.

Harper promotes Canada’s emission reduction plan in Europe

CanuckPolitics — Fri, 30 May 2008 06:59:02 +0000

Prime Minister Harper promotes Canada’s plan for reducing greenhouse gas emissions at the Canada-UK Chamber of Commerce in London, England.

Links:

Canada’s Environment Plan: Turning the Corner Regulatory Framework
Video: Stéphane Dion proposes carbon ‘tax shift’
Video: Stephen Harper’s economic plan

Stéphane Dion proposes carbon ‘tax shift’

CanuckPolitics — Thu, 15 May 2008 18:59:00 +0000

Stéphane Dion outlined his vision for the economy and environment during a speech at the Canadian Club of Toronto.

Dion proposed a carbon tax during the speech, saying it will be revenue neutral because he would also lower other taxes.

MacKay Editorial Cartoons: Liberals uneasy about Dion’s plan for carbon tax

Some Liberals are uneasy of the plan, fearing it will be difficult to sell during an election.

Related links:

Report: Pricing Carbon: Saving Green (David Suzuki Foundation)
Regulatory Framework for Industrial Greenhouse Gas Emissions (Government of Canada)
Video: Stephen Harper’s economic plan

Stephen Harper’s economic plan

CanuckPolitics — Fri, 07 Mar 2008 19:00:32 +0000

Prime Minister Harper spoke to the Economic Club of Toronto where he outlined his economic vision for Canada.

We have been heading into a period of economic uncertainty and slower growth. Its happened before, and it will happen again.

But the fork in the road is whether, under these circumstances, we will make choices that exacerbate the problem for the sake of the short term or whether we will make choices that allow us to exploit the potential in our future.

Canadian government announces $60 billion in tax cuts

CanuckPolitics — Wed, 31 Oct 2007 02:02:49 +0000

Finance Minister Jim Flaherty announced $60 billion in tax cuts, including:

GST reduction from 6% to 5% effective January 1, 2008
Personal income tax rate reduction for the lowest tax bracket from 15.5% to 15%, retroactive from January 1, 2007
Personal income tax reduction from an increased personal exemption, effective retroactively from January 1, 2007
Reduced employment insurance premiums for both employers and employees effective January 1, 2008
1/3 reduction of the corporate and small business tax rate to 15%, implemented over 5 years

Liberal leader Stéphane Dion, NDP leader Jack Layton, and Bloc leader Gilles Duceppe all oppose the broad-based tax cuts, preferring smaller targeted tax cuts and more spending on government programs.

Unlike the NDP and Bloc, the Liberal party intends to stage another whipped abstention to ensure there will not be an election over the issue.