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Canada will be an 'important player' at G20: Harper
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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.
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I applaud the budget, even though Health Care and education may stay unscathed. Sadly this cannot last and I worry to later this year where cuts will become enviable. If anything, this provides the Wildrose Alliance plenty of ammo when an election is called.


Comments are now closed for this story
John from Fredericton
said
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
KJ in Kingston Ontario
said
_____________________________________________
NR
said
Mutt from Windsor
said
Mike R
said
raj
said
zwinky
said
I love revisionist history.
EMG
said
Dale Wilson - Edmonton
said
I'm grateful we have calm, informed leadership in the country at this time. ...
JPC
said
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
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
Hagios
said
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
Phil
said
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
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
Nick in Gatineau
said
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
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
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
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
Mutt from Windsor
said
Wayne
said
JB FSM 08
said
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
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
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
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
Kevin
said
GN in Ottawa
said
william
said
James Halifax
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."
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
Stephen Harper is becoming more and more an anomaly.
I just hope he doesn’t become an embarrassment.
Paul out West
said
Julie - Saskatoon
said
Financial Services Graduate
said
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
Hopeful Market Watcher in BC
said
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
DH in AB
said
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
Lorne
said
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
Tom Kaberle
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.
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
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.