CTV News | Canada will be an 'important player' at G20: Harper

Top Stories -   

Canada will be an 'important player' at G20: Harper

Viewer

CTV News Video

CTV News: Graham Richardson with Harper's plan
CTV Newsnet: Prime Minister Stephen Harper speaks from Toronto, part one
CTV Newsnet: Prime Minister Stephen Harper speaks from Toronto, part two
CTV Newsnet: Ottawa Bureau Chief Robert Fife on the Harper-Obama era ahead

Font-size:      Share  Print  Comments(47)

CTV.ca News Staff

Date: Thu. Nov. 6 2008 9:03 PM ET

An upcoming G20 meeting in Washington is an opportunity for Canada to advance its financial policy on the world stage and be a "voice for positive change" Prime Minister Stephen Harper said Thursday.

Harper met with key financial leaders in Toronto to gather feedback on the economic crisis before an emergency G20 leaders' summit in Washington on Nov. 14-15.

The struggling global economy will be the top priority at the meeting and Canada will be an "important player" in the talks, he said.

"Canada is recognized as having entered this period with a pretty good set of policies. Nobody in the world thinks Canada was a source of any of these problems or even a complicating factor," Harper told reporters following the meeting.

"I think we're in a position where we are important players -- people will listen to us -- but not so important that people are worried we have an alternative agenda. And so these are the messages I will be taking to Washington."

U.S. president-elect Barack Obama is also expected to attend the meetings.

Harper met Thursday morning with leading economists at Toronto's C.D. Howe Institute to discuss which federal actions have helped Canada weather the global economic storm, and which have not.

"Canadians want to know where the global economy took this wrong turn and more importantly they want to know what we must do to fix it," Harper said.

"And I want to hear first-hand from Canada's leading financial and economic experts what we are getting right, what we could do better and what their ideas are for how the global economic system can be strengthened and improved."

Harper said it is not the time to close Canada's borders to foreign trade, but said it is vital the country remains "open to the world" -- possibly a subtle message to Obama, who is considered more protectionist than recent presidents.

He also said there was one clear message from the economists he met with: "Don't be afraid to run a deficit if a deficit is in the best interests of the economy," Harper said.

However, he said any long-term deficit "must be avoided."

Canada is expected to narrowly avoid a recession, according to an International Monetary Fund update released Thursday. The IMF is expecting Canada's growth to be a mere 0.3 per cent next year.

While the economy will take centre stage at the G20 meeting, Harper suggested it will also be an opportunity to share about Canada's approach to reducing greenhouse gas while balancing economic progress and energy security.

During a phone call with Obama, Harper brought up the proposition, sources tell CTV News, which America's next president seemed open to.

James Fleming, editor at the C.D. Howe Institute, told CTV.ca the meeting represented a "discussion and an exchange of views on the global credit crisis... an assessment of the situation and the actions taken so far and a discussion of the available actions going forward, both Canadian and globally."

He said about 20 economists from the institute, along with staff, were to be at the meeting with Harper.

After the roundtable, Harper was to meet privately with business executives where he will solicit feedback on the economic and fiscal update Ottawa will be releasing at the end of the month, an aide told the Toronto Star.

Some experts speculate the economic update could be closer to a mini-budget as the government strives to deal with growing economic woes.

Canada has remained largely insulated from the massive economic crunch currently underway in the U.S. and Harper hopes to take the lessons learned here, to the international forum in Washington, the Star reports.

Comments are now closed for this story

John from Fredericton
said

Canada's banks are well positioned and are holding their own.

Harper will need to find out why and use that as an edge to see if these same controls could work with the other G20 countries.

Should be interesting next week.


JW
said

Well, at least he does his homework!


KJ in Kingston Ontario
said

The top priority here is to get out in front of the psychology of fear and crisis that has spiraled downward and stop a small group of people from feeding off the economic destruction of middle class Canadian investors. If it isn't halted then the long term consequences of this are going to be very very negative for the people of Canada.
_____________________________________________


NR
said

Good leadership on Harper's part. Hopefully he can press his points and suggestions on the international stage. Something Canada hasn't done in a while before Harper came around.


Mutt from Windsor
said

I feel much more comfortable about my choice of Harper during the last election then the 47 % of all American's who did not vote for Obama. We are truly insulated from the bad choices that our American cousins made two days ago, at least until he rips up the Free Trade Agreement and starts with his protectionism


Mike R
said

OMG!! He's not flashy like Obama! But wait, he's doing his job, like a well paid public servant should. No big fanfare, just getting the job done the best he can. Nope, no personal glory here, just work.


raj
said

Obama might ask him for advise! I am pleased he is our Pm.OBama and Harper will work well together


zwinky
said

hmmm... didn't a certain Liberal leader say this would be a good idea during the election campaign and Harper, Flaherty and Conservative supporters called him a "panicking idiot" who didn't understand the economy?

I love revisionist history.



EMG
said

I agree that Mr. Harper should be meeting with the banking industry. However, he should also be meeting with economists from outside the system as well. The banking community in Canada may be too close to the situation. This is not a problem that will have one solution, nor will it be solved by a single perspective. If there was ever a problem that needed to be solved as a team effort, this is it. Partisan politics and divisive ideological claptrap will only make things worse.


Dale Wilson - Edmonton
said

Ggood work Prime Minister, just quietly getting the job done. Consulting with folks who know what they're talking about before getting involved in the discussion with world leaders - thats what Canadians want from their leaders.

I'm grateful we have calm, informed leadership in the country at this time. ...


JPC
said

Meeting with economists ahead of major international conference is smart, prudent and informed.

Marching down the halls of Ottawa trumpeting the current economic troubles and calling flashing "emergency meetings and briefings" is alarmist and fear mongering.

Once again, cool, collected and efficient. We don't need the "flash", only the "substance".


GP
said

The C.D. Howe Institute is an extremely conservative free market proponent group. All Harper is doing here is shoring up his argument for supporting the status quo. I’m sorry but Harper is just more of the same that got us into this mess.

This is not a comment on one party or the other, this is a comment on Harper himself…he is a neo-conservative that will deregulate everything he can while suppressing alternate positions. Sounds just like Bush to me.

He needs to support Main St. not Bay St.


Pat_from_Mississauga
said

Wow...Harper is talking to a bunch of right leaning economists for a whole 90 minutes so that they can tell him things he himself has spouted a 100 times before. I wonder, will these economists have a list of what they can and cannot say, just like Harper's MP's?


Hagios
said

As a LONG time Conservative I have become dismayed in Mr. Harper's leadership. He gained prominence through many on the right supporting him. Yet, in recent months he has clearly indicated and outrightly REFUSED to address issues which are of interest to those on the right of his party such as abortion, Human Rights Commissons etc .

As he addresses the financial issues he has shown he is not averse to stealing polices wherever he can get them. Mr. Harper is turning into a Liberal opportunist and we know how that works.

Real Conservatives need a new home.



R (AB)
said

Hey GP you sound a little bitter about something. I hate to break it to you but Harper didn't cause the WORLDWIDE recession. I know he is in a position with a little bit of power but the PM of Canada isn't that powerful. Comparing Harper to Bush is a joke. If you take a closer look you would realize the canadian conversatives govern way closer to the center then american republicans. They are almost on par with american democrats.


Phil
said

@Zwinky

A piece I read recently has a comment: "History is just people doing things." ... Just as that seems to be a folksy quote, so is the term "revisionist history".

Well, Harper is doing things. Does it matter that someone else made the suggestion? During an election campaign, each party says the others' ideas won't work, regardless of whether they will or not; that is the nature of the election game.

The consultations are under way. Who knows, maybe he will consult others as well. BUT, he is consulting, and that is laudable. Finding fault with everything our elected leaders do is not laudable. After losing his bid to become president, McCain urged GOP members to support the Democratic president and heal wounds. THAT is what should be taking place in Canada, not the perpetual bickering to be found on forums like this.

Yes, mea culpa.




I dare you to post this
said

I hope at least one of these economists has the balls to blast Harper for the way he cut the GST, against many economists advice, and squandered the surpluses that could have helped Harper cover upcoming deficits.
A 15% GST and billion dollars surpluses were not popular but they helped Canada get to and stay in the reasonably secure financial position we were in. That 2% Harper cut from the GST was never really passed along to consumers by retailers hurt by the $1+ Canadian loonie.
As much as we want to believe that our economy is secure, we need to face reality, as the U.S. and world economies goes, so does Canada's. We are in for a world of hurt.

BTW, why is Harper putting out the word that he does not want to meet with Obama first. Is that the prime minister's red neck showing?



Bernard Romanycia
said

I smell the Amero.


Nick in Gatineau
said

If you think for one second that Harper is the Saviour who will solve the world's economic woes, or be able to make all the banks get along, just because he's attending a meeting... you're dreaming. He can't get along with conservatives and you expect him to reconcile trust between banks ? Even the Pope can't do that.

Is Harper's idea of Kyoto is to bring back the horse and buggy as a tax break for emissions control ? Imagine what he'll come up with for the banks !!!

At least someone passed along a job discription.


Doug BC
said

Good ideas and sound policy should be followed regarless of whether the suggeestions come from the Liberal,Conservatives.or,for that matter,from the moon.I think this crisis is serious enough too warrant input from any source.This meeting is neither brilliant or foolish.Just common sense.
As someone who recently left the Liberals to support the Conservatives,I was interested in "Hagios" post.While I can understand the concerns expressed,I think it is worth poining out that "real Conservatives" simply have no voice in a home they aren't willing to share.The day Mr.Harper,or any other party decides to re-open an issue like abortion,they are going to be banished from parliament hill.That fear by Canadian voters is very likely a major reason that Harper does not have a majority.It is people who with VERY conservative views that keep the Liberals (aka NDP Lite" in office.
So,the age old question for voters remains.Should I be prepared to compromise in order to have a voice,or do I stick to my principles and have no voice in parliament?
No party with an overly right wing platform will ever win in Canada.For now,I am grateful we have some people with a somewhat conservative fiscal view and am secure in knowing I am free to live my life within whatever social ideology I choose.
No matter who gets elected to parliament,no one gets everything their heart desires.If anyone tells you they agree with all of their party's platform,they are either "spinning",or simply following blindly.



DW
said

Ok, I've been reading these boards for a while...

Are most of you working for right-wing think tanks? It's almost painfully obvious. The intention of most of these posts is simply to sway public opinion. I have a hard time believing that real people would take time to write this stuff.

During the election (ours, not theirs) despite polls showing ~35% supporting the conservatives, about 85% of posts on this site were ultra-pro conseervative.

The mandate of think tanks is to sway public opinion now that lobbyist laws have changed. This is a very effective way to make people think that the majority of the public feel a certain way.


Linda in Vancouver
said

Really.The notion that Canada has much influence on the world stage is laughable and extremely self centered.
Our economy is simply to small to impact anything.And our participation in these meetings is more symbolic than anything else.Even if we can bring some decent ideas for regulation to the table.
We are on our own.The only thing ANY government in Canada can do is try to mitigate the volatility and the impacts of the global economy.We rely on exports to sustain our standard of living,so we need access to foreign markets.Does anyone seriously think those other nations care about having access to our market? We are only 30 million people.Not enough to attract any real attention from anyone wanting anything more that raw materials.
On a positive note,I am gratified that more and more Canadians seem to be realizing that living on credit is not a sustainable option.Either for our nation or the people living here.And I do not believe this is a "neo-con" or "ultra pro conservative" agenda.It's just common sense not to waste a finite numbers of dollars paying interest on debt that wasn't an absolute necessity to incur.
Given the lack of both capital and population in Canada,I think the only think Harper can do is try to fight off those lobbying for protectionism in countries that we export to.


Paul
said

funny to hear about Harper suddenly mentioning change every 2 seconds.. he wanted to be a clone of the current US President and now he is trying to be a clone of the next one as well! Good luck!


Mutt from Windsor
said

Harper represents the only Government that has not suffered through failed Banks and brokerage houses. The others will be looking to Mr Harper as to how the Candians avoided what has been the reality for so many others. Its really simple- keep taxes low, tighten up the lending rules, living within your means, not be a slave to a socialist agenda (LIB/NDP), keeping government small, and realistic expectations and policies. No pie in the sky like Green Shift and Carbon taxes, and allowing most Canadians to keep more of their own money, spending in such ways that Government cant.


Wayne
said

Well Done Mr. Harper ... speaking as a former Liberal who has handed his card in and joined then CPC I am very happy with my choice and all I can say is thank god that we have Mr. harper as PM right now. Keep up the good work!


JB FSM 08
said

Though I will admit I voted for the Conservatives in the past election because I think they are the best party to take us through turbulent economic times. This issue is really bipartisan.

It's about the high capitalization requirements for Canadian banks, effective regulation and no foolish risk taking. These are not found in the American banking system, regulation is loose, capitalization requirements are lower, allowing banks to become highly leveraged by taking excessive risk. It's time we Canadians focus on the issues at hand instead of remaining bitter about whoever is in power. This issue is not a Liberal or Conservative problem. It is an American problem that has dragged other countries with large investments in the American money game.

With America also being the largest trading partner of many other countries as well, it is only natural that other countries are going to experience economic woes too. What these countries and others with a similar lack of capitalization requirements, regulation and accountability need to do is learn from Canada or watch history repeat itself in the future, maybe not in our time but in time.




Heads Up
said

I'm sorry, but I don't see how it can benefit the Canadian economy when taxes are high and the government sits on billions of dollars of surplus.

It is better to have that money circulating in the economy, then sitting in Ottawa's stash.

Thank goodness we have a PM who is an economist and not a lawyer. At least he knows what direction to take.


Biff
said

When Harper has to say he will be an important player, he will most likely not be very important. Instead of saying he will be, just go in and play a key role and be an important player. DOn't say you will be before it happens.

Also, according to Harper, "nobody in the world thinks Canada was a source of any of these problems or even a complicating factor." This just goes so show how little influence we will have at this meeting. Because we were not the root and are not a continuing factor, there will not be much discussion involving Canada.


Reece
said

It's simply tacky to claim that the healthy banking system is because of harper. He in NO WAY could take credit of any of this. It's outrageous that people here would give that impression. Harper has always been a minority gov't and I sincerely believe he always will be. All the heavy lifting took place during Chretien's era and a big fat thank you is in order instead of acting like a bunch of hacks.

America has Obama and we need Chretien back...we have no inspirational leaders here & to suggest it's the unemotional dull Harper is laughable.


Rob
said

What's with all the praise for Harper? I like the guy but the policies that put Canada in this position were Paul Martin's as finance minister.


Kevin
said

The reason you're seeing fewer left wing postings here is that you can't spend your way out of a worldwide recession. We have a tiny, insignificant economy, (except for providing the US with a stable supply of oil), and Harper's plan to ride out the storm is the one that makes sense. The lower dollar will stimulate the manufacturing sector and as it's been said by the other members of the G8, Canada has the safest, strictest banking regulations in the world. We are positioned well to survive these times of economin uncertainty. Look for Federal spending to be focused on infrastructure in the major cities as opposed to financial bailouts of niche industries. This will create jobs instead of giving handouts.


GN in Ottawa
said

Hey Hagios, go for it. After all it worked so well last time!


william
said

I think the prime minister is doing his job and doing it very well. I think that mr. harper and mr. obama are going to get along very well and this is good for both our countries.


James Halifax
said

Rob wrote:
"What's with all the praise for Harper? I like the guy but the policies that put Canada in this position were Paul Martin's as finance minister."

Actually Rob, the Liberal Party balanced the books by stealing the ideas and policies on financial issues from the REFORM party. You forgot to mention that little tid-bit. Secondly, Preston Manning has already written that most of the policies on finance and trade came from a young economist who showed great aptitude for economics. Sound like someone you know? Here's a hint....he's currently our Prime Minister.


Second...in case any are STILL unaware of it. What other document did the young rookie MP from the REFORM party create? Oh..that's right, the "Clarity Act".....which by the way, he offered to Jean Chretian PRIOR to the 1995 Quebec referendum. Chretien ignored the young MP...and we almost lost the country. After the close vote.....Chretien blew off the dust of Harper's policy statement, handed it to Stephen Dion and said, "
Write this up in Liberal-speak.......

Just thought you should know Rob.





Allan Eizinas
said

Harpers Australian right wing buddy is history and Australia is moving to the left. Harpers American right wing buddy is soon to be history and America is moving to the left. The only right wingers remaining are dictators. The world pendulum is swinging to the left.

Stephen Harper is becoming more and more an anomaly.

I just hope he doesn’t become an embarrassment.


Paul out West
said

Isn't the CD Howe Institute a right wing think tank? Isn't their philosophy the same as the conservative Republicans. Isn't Harper parroting George W. Bush?


Julie - Saskatoon
said

Do you people posting about our "insignificant economy" in the global scale not understand what this article was about? Canada has the #1 banking system in the world. To put that into perspective, the U.S. is ranked #40 (this is out of 140 countries). Heck ya, the rest of the world wants to know what we do right! It's because of our banks lending practices that our economy is not in as compromising of a position as many other countries. Has everyone forgot that Iceland recently made headlines? Their population isn't that high either...


Financial Services Graduate
said

For Reece

Reece, nobody is giving Harper credit for a healthy banking system. They are crediting him for taking the right steps. Minority, majority, it's irrelevant. The systems in place, regulation, high capitalization, aversion to risk are to thank.

Your dislike of Harper has caused you to miss the point, he is just doing his job. It is because of the systems the government put in place in the past. This is why the Canadian Banking System is somewhat sheltered from the economic woes of the rest of the world. Though not entirely as we are all intertwined through trade.

American banks were giving out predatory mortagages without proof of income with rising interest rates, to subprime candidates and leveraging it with commercial paper. They were designed to fail. It has absolutely nothing to do with Harper, Dion, or Chretien.

Emotion, though enticing, only gets you elected. It's not that useful when the real work starts. Charisma is only good for public relations and to inspire, like you say, but that won't fix the economy.

Insults and emotional language. What is this? An election campaign.

The Election has passed and democracy has spoken. Let it be.


Allan, take another look south of the border
said

Calling Harper right wing is dead wrong. He is only considered right wing because the other two parties are both currently quite left of center. Harper is closer to Obama than he is to G. W. Bush on the political spectrum. This is Canada. In the States they view us as socialists. We have health care, regulation, remember?


Hopeful Market Watcher in BC
said

No matter what you do or say, someone will find fault. I can imagine JFK, John A. MacDonald and any other famous politician had to endur the bleating of the discontent sheep.

Mr. Harper is doing what he thinks is best for Canada. The alternative are surely weighed and considered as his time is valuable. Those who criticize what is being done should offer up better choices instead of more rhetoric. If we want to listen to rhetoric, we can tune in people like Bob Rae. Ha!


Richard in Toronto
said

The Prime Minister knows his stuff and is open to advice from the business communities. We're well positioned to weather this storm. Also, it's nice to see Canada taking a more prominent role on the world stage as befits our status as a middle power.


DH in AB
said

DW

I think you will find the exact same thing on the CBC boards, only leaning FAR to the other end of the spectrum. The fact of the matter is that different people have different ideologies and those with the more extreme ideas tend to be the most outspoken. You can find many good comments here by some truly moderate thinkers, it just takes some patients to filter through the gobbledygook of the loudmouths.


catey
said

The Liberals placed us on a strong economic track after the Mulroney spend-a-thon years. Harper inherited a strong economy. Let's hope that he tries to get and take good advice or else his right wing gang will be responsible for losing everything the Liberals helped us to amass. I have a very bad feeling about him.


Lorne
said

Harper's attendance at the G20 summit will have zero impact, as Canada is a very small player.
The US, Japan and other countries will call the tune.
Representatives of the US, which is mired in debt and literally broke, will only concern themselves with what is best for them and the hell with everybody else. (It doesn't matter if it's Bush's or Obama's reps.)


Chris
said

Thank you very much Mr. Harper! What leadership and discernment!


Tom Kaberle
said

zwinky
hmmm... didn't a certain Liberal leader say this would be a good idea during the election campaign and Harper, Flaherty and Conservative supporters called him a "panicking idiot" who didn't understand the economy?

I love revisionist history.



YOU ARE MISSING THE POINT !!!

The Liberal leader wanted to have the meeting during the election campaign..... that is panicking..... Harper took the right approach by taking this very important issue out of the election debate and into the realm of governance....... where cooler heads can make good decisions and not an adhock reactionary vote buying approach that Dion took



Steve the Pundit
said

Why do people get all bent out of shape at the notion of "conservative economists"?

Economists are interested purely in the actions of market forces on the economy. They are NOT interested in social policy, except where those policies distort market forces (which they do, sorry to say)

Would that all of the bankers and lenders that caused the worldwide economic meltdown had been as conservative as the economists Harper met with.


Share with your social Network:

 

Advertisement

Contest

CTV Video Player

Mike Duffy Live

Mike Duffy Live

It may seem contrary to logic, but could running a small and temporary deficit be a benefit to the economy?

User Tools

About the tools

Need to get in touch with CTV? You can email the CTV web team using the 'Feedback' button.

Share it with your network of friends

Share this CTV article or feature with your friends. Click on the icon for your favourite social networking or messaging system, and follow the prompts.

Share this article with Facebook

Share this article with Digg

Share this article with Newsvine

Share this article with delicious

Share this article.
Send Email

Share this article with Twitter

Share this article with StumbleUpon

Share this article with Reddit

Share this article with Yahoo! Buzz