
Minority Parliament would destabilize economy: Harper
Published Friday October 3rd, 2008


EDMUNDSTON, N.B. - Another minority Parliament would be disastrous for the economy, Prime Minister Stephen Harper warned Friday.
Harper likened a dysfunctional minority in the House of Commons to the U.S. House of Representatives, which sent stock markets into a tailspin last month after members rejected a $700-billion bailout plan for the financial industry.
"You only got one vote - vote for the party you think can actually run the economy," Harper said during a campaign event in Saint John, N.B.
"But don't go out and vote just to have an opposition. Because I think if people start voting just for an opposition, we have the risk you have in the United States."
The Conservatives are promising to give $2,000 bonus cheques to apprentices who finish accredited training programs in order to attract more workers to the skilled trades.
The measure, which would cost as much as $60 million a year, is part of a Tory plan to buttress Canada's economy against the financial turmoil roiling U.S. markets and sapping consumer confidence south of the border.
Following two weeks of tumult, Congress voted Friday to approve the $700-billion government bailout and U.S. President George W. Bush was to immediately sign it into law.
"We don't need a Parliament that acts and functions like the American Congress," Harper said.
"We're Conservatives, we're not in power that often, so whatever mandate we get - if we get one - I'll be thankful."
Nonetheless, Canada's financial situation is stable - the economy continues to create jobs, albeit not at the same pace - and the banks are healthy, Harper insisted as he attacked Liberal rival Stephane Dion for making up fiscal policy on the fly.
Dion is panicking in the face of economic uncertainty, he said, promising to hold meetings in the first 30 days of a Liberal government - meetings Harper said have already been going on for years.
Harper's remarks came on the same day the Bank of Canada injected an additional $12 billion or more into money markets to ensure Canadians have access to loans.
The central bank has already extended $8 billion in three operations since Sept. 19 to provide liquidity in term lending markets, and Friday's announcement signals that the global financial crisis is seriously affecting the availability of credit in Canada.
Two weeks ago, following the collapse of one large U.S. investment bank and the takeover of another, Harper speculated the worst of the financial crisis was over.
"My own belief is if we were going to have some kind of crash or recession, we probably would have had it by now a year into the (financial) crisis," he said at the time.
This week, however, has seen huge losses on the Toronto Stock Exchange followed by moderate rebounds. On Monday, the TSX plummeted 841 points - its largest point drop ever - before rebounding the next day.
The bottom fell out again on Thursday with another 814-point drop. In total, the Toronto market has now fallen more than 27 per cent from its record high on June 18.
Harper, a trained economist, was asked in Saint John if he was wrong in predicting the worst of the financial tumult was over.
"I don't think that's quite what I said," he replied.
"What I do remember saying is that I don't think all the shoes have necessarily dropped.
"I still think the United States' economy, notwithstanding its problems - and there are pretty serious problems - has tremendous resiliency, as do the American people. So I'm not going to count them out quite yet."
Harper also called the prospect of a carbon tax a disaster that would be felt the most by commodity and energy producers, both of which have been hit hard on the stock market.
"There is nothing that could be worse for the economy of Saint John than the imposition of a carbon tax," he said. "This is exactly what we don't need."
Harper said the Tories have been restrained and realistic in their campaign promises, unlike the big-spending Liberals and the NDP.
"These (Tory) promises together don't cost as much as what most of the parties have been announcing in a single day."
The incentive measure announced Friday is designed to entice workers to take up a trade and ease the shortage of skilled workers Canada currently faces, Harper said.
Eligible trades include carpenters, electricians, mechanics, plumbers, bakers and hair stylists.
Harper also said the long-awaited Conservative election platform - the only one that has yet to be made public - would likely be released Tuesday.
Following the Saint John event, Harper attended a campaign rally in Edmundston, N.B., where he said he believes the Conservatives will form the next government after the election.








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Its kinda like comparing the dead with the near dead.
He needs to move off his argument that our being near dead is a strong position. If thats his plan then we have none here also.
1. Jack Layton, NDP, official opposition
2. Brian Murphy, Liberal, defeated
3. Charles Hubbard, Liberal, defeated
4. Dominic Leblanc, Liberal, defeated
5. Yvon Godin, NDP, re elected
6. Liberals lose seat in Fredericton
7. Debate on Afghanistan (costs $$$ and mission)