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Joining the stimulating party
Keywords:
Tags: Canada, Capital Markets,
After years of running budget deficits, Canada under the Conservatives worked hard to balance its budget. The Conservatives under Stephen Harper did not accept the need for large stimulus spending, as a result his government almost lost its second term in a parliamentary vote that did not happen because the governor general closed Parliament for 7 weeks. Now it has come up with a stimulus plan of $40 billion in Canadian dollars of tax breaks and new spending. Most of the money will go to maintaining roads, railways and ports and in encouraging home improvements. The government is also adding C$50 billion to its C$75 billion fund to buy mortgage-backed securities.
Canada Stimulus.
01/22/2009
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The elections in 2011 give the Conservatives under Harper a clear majority in parliament. Another change is the emergence of the New Democrats (NDP) as the main opposition party in parliament. The Conservatives won 40% of the vote, gaining seats in Ontario because of the split of the left-of-centre vote between the NDP and the Liberals. Harper plans to govern in the way the Conservatives did when they were a minority party, and plans no major changes.
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