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G8 leaders say economy uncertain, stimulus needed

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CTV News: Roger Smith reports from the G8
CTV News Channel: Craig Oliver on how Harper's position in the environment has changed
CTV News Channel: Prime Minister Stephen Harper comments on the G8 environment declaration
CTV News Channel: Wayne Merry, American Foreign Policy Council, on the G8 summit
CTV News Channel: Eleanor Clift, Newsweek, on what's at stake for G8 leaders
CTV News Channel: Paul Heinbecker, former ambassador to UN, on the hopes for the G8 Summit
Canada AM: Colin Robertson, former Canadian envoy, on G8 plans
Canada AM: BNN's Michael Kane on the G8 donations

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CTV.ca News Staff

Date: Wed. Jul. 8 2009 9:42 PM ET

On the same day that Prime Minister Stephen Harper urged world leaders to hold off on new stimulus funding, G8 leaders issued a draft statement emphasizing the need to take action to breath new life into the economy.

Harper is in earthquake-ravaged L'Aquila, Italy for a Group of Eight summit with the heads of Britain, France, Germany, Italy, Japan Russia and the U.S.

In a draft statement issued on Wednesday, the first day of the meetings, the leaders said the global economic outlook "remains uncertain" and pledged to do whatever it takes -- including issuing new stimulus funds -- to strengthen the economy.

Earlier Wednesday, Harper urged leaders to complete the stimulus initiatives that are already underway, before committing new funds.

"My own thought is before there's talk of additional stimulus, I would urge all leaders to focus first on making the stimulus that's announced actually gets delivered," Harper said.

"That's been our focus in Canada and I would urge the same priority elsewhere."

Harper also signalled he will continue to push his message that the temptation for nations to move towards protectionist tendencies should be avoided at all costs, saying such moves could actually prolong the recession.

Harper's position may clash with some other leaders, including U.S. President Barack Obama and British Prime Minister Gordon Brown, who appear to be in favour of committing further funds to the recovery effort.

The G8 summit was originally set to be a held at a resort, but was moved to L'Aquila in order to generate attention and funding for the region, said CTV's Roger Smith, travelling with the prime minister.

He said many local people are still living with the after-effects of the quake which killed 300 people and left 60,000 homeless.

Thousands of residents of the area are still living in tent cities as the reconstruction continues amid aftershocks.

Harper was the first leader to respond to the call for help, Smith said.

"The prime minister announced that Canada would spend $5 Million dollars to help build a new youth centre at the university here and that Canadians would also help raise money privately to help with the reconstruction effort.

G8 on global warming

The G8 leaders agreed to seek dramatic cuts in greenhouse gas emissions. They said that global temperatures should be kept from rising by more than 2 degrees Celsius.

"After a long struggle, all of the G8 nations have finally accepted the 2-degree goal," German Chancellor Angela Merkel said.

But while British Prime Minister Gordon Brown called the group's statement a "historic agreement," the statement is nonbinding and there is no clear path to success.

Environmental groups were quick to say the effort fell far short of what is needed to cut the carbon emissions that mostly come from energy production.

Comments are now closed for this story

willow b
said
0 0

It never ceases to amaze me, here in Atlantic Canada, the scrimp/crab fishery is on the verge of collapse putting hundreds of fishermen and plant workers out of work and no help from the Feds, but they can find $ 5M to contribute to a construction of a gym. Go figure ?????


Frank
said
0 0

Our Prime Minister is absolutely correct. Any indication of additional "stimulus" could create other problems. i.e. holdback of initiatives by business and requests for assistance just to fatten the books of big companies. If Air Canada cannot survive on it's own without more financial help it should be let dumped.


Dougy in Wiarton
said
0 0

Best thing he announced was the slashing of all this 'foreign aid' business It offended Mt Brown, the British PM - who is universally hated in his home country - so it MUST be the correct thing to do. Charity begins at home! Good on you Mr Harper. I did not vote for you last time, but you have my vote now!


Connie Alberta
said
0 0

Once again our Prime Minister needs to listen to his own words. We have lost most of our construction season waiting for the money to flow. Ask the mayors where things stand. They will tell you the Prime Minister is right, he needs to get the money flowing. He is very good at the "speak" but not so good with the follow through.


beeman
said
0 0

I find it ironic that our PM is talking about getting committed dollars out the door when here in NL we are waiting on millions of dollars that have been "announced" but the actual funds are nowhere in sight. Empty promises.


DCR-Toronto
said
0 0

PM Harper is completely right. To throw billions of more money at "stimulous" is crazy. We haven't even started seeing what effects the initial package has started. Do we want to bankrupt this country because someone in Europe says we should spend more???
Now...just wait for it. The Liberals were just saying how out of control the spending is, but with this so-called "recomendation", they will be screaming to spend more. Once again demonstrating that the Liberals will say anything to get power. ENOUGH SPENDING ALREADY!!!


phil
said
0 0

They are like kids at a candy store with their moms credit card. We now owe over 500 Billion dollars to the world banks that Canada borrows from to finance the budget. We were actually paying off our national debt and lowering it ever year untill now. I won't be long before the world banks are running our country like they do in the USA who now owe 10 Trillion dollars to these crooks. I wonder what the interest is on just half a trillion per day ??? Lets start a revolution and just print our own 50 biliion dollars backed by Canadian Oil assets (Gold is overated). Then we owe the world banks nothing and a decresed canadian dollar value would boost exports. I can only dream about my debt free great-great-great- grandkids.


Concerned Canadian
said
0 0

I rarely agree with Mr.Harper, but I think that here he is correct.

Apparently only 10% of the money already allocated has actually been spent, at least in the States. It seems premature to be putting more money in, until we are sure of the impact of the first entire stimulus amount.Furthermore, there are indications that the economy is improving, albeit in a muted manner. Given the drawbacks, such as an increase in inflation,we ought to hold fire for a while.

On the other hand, we need to ensure that we are really spending the money where it is most needed. Mr. Ignatieff's criticism was perhaps justified here- is our government really correct to spend money on gyms when, as Willow B said, the fisheries are in so much trouble?


Rick in NB
said
0 0

Harper should listen to his own advice. There is no stimulus spending going on here. We can't spend promises and theres a lot of infrastructure work to do.

PS: Where's the money!


Buba
said
0 0

If it weren't for the Coalition threat, there'd be no stimulus package in Canada and the G8 leaders are smart enough to not listen to Harper.


KJ in Kingston Ontario
said
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The stimulus spending will do far more harm in the long term than any good in the short run. Governments should realize that you can't make water flow up hill -- and playing with the levers by attempting to force growth and recovery and ignoring the business cycle only moves the pain from the wealthy investors who have been very busy gaming the markets with run-ups and sell-offs onto the backs of every day average payroll taxed worker who will be stuck with the tab for all this fiscal madness.

The public seems to always demand "government action" --even when it is the wrong action.


V aka Layton in Moncton NB
said
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I love the G-whatever meetings...it's when we start to see the agenda play out from the Bilderberg group meetings. Just google Bilderberg, and BTW once you understand who THEY are, you'll realize that politics as we understand it, is just navel gazing.


GUTSHOT!! in Thunder Bay
said
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When you run a financially resposible government like Steven has, there's no need for fake stimulus plans.

Giving money to those who whine the loudest is just welfare. Time for liberals to grow up!


J-Bone
said
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Keynesian "stimulus" is nothing more than a political program, devised by John Maynard Keynes, the Fabian Socialist, to increase state involvement in the economy.

Then, when that involvement creates recessions or other market failures, the socialists blame the free market, and then demand even more intervention. To whit, there are already calls in the US for *another* stimulus package.


Sue in Orillia
said
0 0

I guess a lot of you think that the Prime Minister says "there' a good project over there" and then writes up, signs and delivers a cheque and the work gets going. Do you choose to ignore or do you really not know that everything the government does is tied up in a nightmare of red tape? Environmental studies alone will keep a project from going ahead for months if not years. Just ask us here in Orillia where we have been trying to build a rec centre for years. Millions have gone into studies and no approval yet. There are studies and reports at the municipal, provincial and federal levels for every development proposal. The stimulus money jut got approved a few months ago but some of you expect the work to all ready be in progress?


Stimulus spending - doomed to fail
said
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Harper is correct - but most stimulus is counter-productive & taxpayers have little faith in government's ability to manage it.

Taxpayers are certain they could be paying huge tax increases for a decade, for the present stimulus that has not worked.

Please refer to the "Ricardian Equivalence theory by Robert Barro.


Jake S.
said
0 0

You people from the east coast cease to amaze me. Everyday you gripe and complain how sad your situation is and how hard done by you are, yet nobody out there is willing get off his or her butt and do something about it. Instead we hear you cry for federal money where for dozens of years Ontario fit your bills and after Ontario built you the off shore oil industry and fell under hard times itself you refused to give the money you borrowed back! Charity in = charity out, if you’re not willing to put anything in then you’re not going to get anything out of it so stop your whining!


Martin
said
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"My own thought is before there's talk of additional stimulus, I would urge all leaders to focus first on making (sure) the stimulus that's announced actually gets delivered," Harper said.

"That's been our focus in Canada and I would urge the same priority elsewhere."

---------------------------


Everybody wants to rule the world, buddy. Too bad Merkel and Sarkozy have been waiting for their moment. Turnabout is fair play, remember. 'No Soup For You'!


Rick in NB (East)
said
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Well Jake S. i'm glad we cease to amaze you. But now you're going through your havenot stage. You will be getting equalization money, it might be wise to show humility.

Let's face it Harper just stood up in front of the world and lied about our state of affairs.


Dan
said
0 0

Good Job Harper! If we listened to liberal minded people and their ideas on the economy, we would not be in the position we are in... that is, compared to other countries who are also going through a rough time, we are in one of the best positions as far as our economy is concerned.


Paul, Kingston
said
0 0

This whole summit is a joke. How can you say theres no need for global stimulus when the building behind you is collapsing as you speak.


Jeffery
said
0 0

Seeing from the comments above,I think again that Harper is really a politian whose prior competence is to win the votes.I also remember the "political scandal" among our top political parties in our country last year.To be honest,since that "scandal" most of us have become not to care who is the Prime Minister at all because he always firstly stands for the interest of his own party but not the commom people.Viewing from this point, our politians and their parties are just like the communist party in China.Much more fortunate than Chinese,we have our own rights to select our leader.So our leader have to pay a little attention to our feelings and concerns.But remember that,we commom people will never be the main issue of the political games.


nc
said
0 0

For once I agree with the PM.


Jason B
said
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Canada's deficit is the highest it has been since the Mulroney years. The auto and banking industries in Canada and the U.S. have gotten more than enough money.

If there is to be more stimulus spending, then the money should go to individuals and families. For now though, let's see how the current package performs before commiting more money.


Steve Robinson in Calgary
said
0 0

Looks like we have the only sensible leader at the summit. We have had more than enough stimulus.Mayors that are liberal or NDP supporters would not acknowledge their getting money if a truck load of it was dumped on them. Do you believe everything you hear from your buck passing mayor at a town hall meeting? Do you even go to meetings? When it becomes obvious the money is flowing, those people that now claim it's not will be saying it's not flowing fast enough, or not being spent wisely. Be patient,and don't assume everything that needs to be done in your area is waiting for stimulus money.


Steve in PEI
said
0 0

I don't support Harper or the Conservatives, but he's right this time. "Stimulus" is just a way of pissing money down the toilet. The economy gets a short-term jolt which makes the pain seem to ease. The catch is that when the government money is spent the economy goes right back in the tank, because our economic woes are driven by record high oil prices that aren't going away.

By historical standards, even corrected for inflation, the "low" oil prices this winter were actually very high, and the current prices are exorbitantly high. Our economy, not to mention our food supply, is built on massive amounts of cheap, abundant energy, and you can't stimulus spend your way out of a problem like that.

We're going to rack up massive debts that we won't see very much for, which governments will be tempted to monetize, leading to massive inflation and weakening of the US dollar reserve system. It's not worth it. We should suck it up and take the pain now. Hopefully that would create some economic incentive to drive innovation to lessen our dependence on oil.


Fred from Ottawa
said
0 0

Like most Canadians I feel we don't mind paying taxes. The rub comes when we find out what our money was spent on. One day parades, cultural festivals, bailouts to formerly rich companies, payouts to wrongfully imprisoned Canadians (where no one in CSIS or the RCMP is held accountable for the actions that led to the imprisonment/torture in the first place), payouts to former PM's who witheld critical information to investigators etc etc. Where do we draw the line? Isn't everyone entitled to a bailout?


Maureen
said
0 0

Lots of comments about how the money is announced but is not actually being used. Guess what people!!!??? The federal government does not build roads, sewers, etc - that is the responsibility of provinces and cities - so if the shovels are not in the ground putting people to work, look to your city or provincial governments. For all the whining that city governments have done over the years about their huge infrastructure needs, it seems that they had done little actual planning to that projects were ready to go ahead. Or like Toronto where they thought they could get money for anything and wasted huge amounts of time trying to strong arm the feds into funding something that was not part of the funding goals.


Toronto
said
0 0

It seems the Cons are only currying favor to the Italian voters of the Toronto area for the next general election.


André in Ontario
said
0 0

Hey Harpo, how about practicing what you preach!! You keep talking from both sides of your mouth but nothing but false information keeps coming out. Let's not forget your late last Friday afternoon bad new report on job losses, the budgetary officer stating your deficit will be$156 Billion dollars & in 2014 will be at least $17Billion dollars. Bu wait you said you will be cutting & selling. Sounds to me you'll be burning the furniture to heat the house. An election soon to remove this most incompetent so called PM out & back to where he belongs. Then he can do like the rest of Cons former leader. Try & get a job in the states.


Roger T
said
0 0

Harper says no need yet because our country and it's cities are broke. The city is run down, strikes are on, enemployment rates up, housing price plunging,consumers confidence down, retail sales down....etc.

Good try to divert attention away from problems back home.


Buzz
said
0 0

willow b - You are absolutely correct. It seems that we neglect our own in favor of putting on a "good show" for the rest of the world. OK… we care. Now, when can we focus on our domestic problems?


Frustrated.
said
0 0

Harper cannot lecture to the rest of the world about stimulus packages.
Our own stimulus has not even reached Shovel Ready Jobs !!!
The stimulus money is not flowing and nobody cares !!!



GJS - Markham
said
0 0

Harper is all talk and only negative action.

Negative environmental results since in power!

Negative economic results!

Not able to get the money out for the "shovel ready programs"

And on and on the negative list grows.

Get him out of office and certainly off the world stage.


Alicia
said
0 0

To Jake S... if it weren't for us "lazy", "no good", "defeatist attitude" East Coasters... Where the HELL would Alberta, BC, and Ontario be? Those staying here, in the lobster, forestry and other suffering industries, are doing so for their heritage... Might I ask do you eat seafood? how do you heat your home? Get off your soap box until you have something constructive to say!


Edb
said
0 0

Are you kidding, put Canada first, stop throwing money at UN sponsored global taxes that feed 3rd world tin pot dictators. This PM is clearly insane. Please, get some Liberals in power to redistribute our wealth to those more deserving then us greedy Canadians.


B. Kelley, Ontario
said
0 0

I just hope and pray that our government does not follow King Obama down the road to certain economic disaster. That country is standing on the edge of uncontrollable inflation and the Democrats are trying their best to push it over the cliff into socialist oblivion with their wild spend and tax policies. If we are to avoid being sucked along behind them into a black hole then Canada needs to move as quickly as possible away from NAFTA and build solid trade alliances with the European Union and the Pacific Rim. I don't know about others but right now I'm buying gold. Twelve months from now, our dollar could well be worthless.


Sean Calder - Chatham ON
said
0 0

Many posters here seem to be forgetting that building goodwill internationally pays off when it comes to trade negotiations, especially with the "old world" where honoring assistance is still a very important tradition.

People complaining about the debt we are incurring to do this also seem to have forgotten to thank the Liberals, NDP and BLOQ for putting the gun to the Conservative's head in order to force this spending on the nation. Next time you speak to an opposition MP, be sure you thank them appropriately.

And while it may not be making national headlines in favor of other media circuses as of late, this current Government has been negotiating Free Trade Agreements at an almost breathtaking pace which we have yet to reap the benefits from, and we're talking Billions upon Billions of dollars of increased Trade Revenue.


M M B Ont
said
0 0

I agree with Harper that there is no need for more stimulus monies. For those complaining that the stimulus monies are not flowing, perhaps check with your municipalities and cities. Or check with the Federal Gov't because the PM can announce the monies to flow but another Gov't dept is respsonsible for the monies to actually move forward.

I believe Canada is in good shape despite the unenployment rates. Whoever said life would be a bowl of cherries and everything delivered on a silver platter? Perhaps we have had so much here in Canada that we have become a spoiled people wanting the gov't to do everything for us, including raising our children. Whatever happened to the role of parents?
The rising oil prices are a detriment to the economy and I believe that is a direct result of greedy speculators.


Ken - Calgary
said
0 0

Maybe if Harper wasn't so busy with his draconian politics and attack ads, the money "already committed" would have been actually followed through on.


Liberal Policies - Well Presented
said
0 0

I have to admit I agree with Harper on this one. Make the announcements a reality.

The other thing I agree with him on is that Canada took steps in the 90"s to ensure we did not hit the brunt of the economic crisis. We did have good planning and did not allow banks to go crazy.

The only coincidence on these is that they are both things that the Liberals have actually been leading. hmmmmm


Edmonton John
said
0 0

Harper is intensely disliked by most Canadians, and repeatedly has to make concessions to the opposition to ensure his own survival. He suffers from the same ills that Brown does, so if people are saying to ignore Brown, then the same should apply to Harper.

Harper has not let the money flow to provinces and municipalities to stimulate employment. He has no idea and no plan beyond destroying the opposition, especially the Liberals, and stacking the senate with ridiculous appointees.

Harper is employing the same strategy of obstructionism with the G8 that he always pursued when in opposition. When he doesn't get to call the shots, he doesn't want anyone else calling them either, and he will do anything he can to prevent or obstruct them.

He is an embarrassment.


Wayne in New Brunswick
said
0 0

I wouldn't put any faith in what Harper has to say. We have seen enough of his predictions. No deficit! Ha,ha


MAL of TO
said
0 0

More stimulus? Well, first off here in the ENGINE of Canada [that is said 100% sarcastically] we need a couple of things. First a mayor who can figure out what is shovel ready and what is not, then we need to figure out what exactly the original stimulus did for us other than being part owners of a couple of car companies.


Marc Foisy
said
0 0

Harper couldn't even answer the question: How much stimulus has already taken place. He hummed and hawed and hummed some more. Grow a pair and when you speak, follow through.

Messages like this just feed the "die hard conservatives" that don't like the whole message, just feed off the little blurbs of VERBAL DIHARREA that sound good.

Follow through mr. harper. Follow through. If you don't follow through, you'll slice the ball. And although Mr. Harper's message is "a good shot", he is not following through so the message is being sliced far to the right. Far far!


Art in Alberta
said
0 0

There goes our fearless leader. Talking nonsense to the rest of the world; on another foreign trip again!

Did the taxpayers pay for his family to attend this one too?

Nice media coverage on this. Now that MJ's memorial is finished we'll start getting real news again?


Kevin in T.O.
said
0 0

I don't know where you all live but I'm in Toronto and everywhere you go in the GTA (and from what I've seen in southwestern Ontario travels) there is construction happening - curbs, sidewalks, bridges, water manes you name it. It's clear alot of the federal stimulus funds have gone out. Maybe not as fast as some would like (remember this is government) but it's getting out.


Raging Ranter
said
0 0

Too much stimulus out there already. What happens when the bullets are all spent and the economy is still in the tank? Don't think it can happen? Just ask Japan. 20 years of massive stimulus and they're right back in the tank with the rest of the world. Harper is right to preach restraint, but I'd feel a lot better if he'd have avoided blowing his wad on dubious "stimulus" projects in the first place.


Canada Goose Whistler
said
0 0

Yes!
Unemployment keeps rising, bankruptcies are soaring.
Harper's incompetent government will waste half of any stimulus money before it gets out the door.
The only way to improve Canada's economy is to have an election.
Harper will be voted out & the liberals will clean up the mess.


Aaron in Toronto
said
0 0

I really don't understand the whole thing here. The bankers made a mistake by investing money on the toxic asset and the gov't bail them out. Consumer made a mistake by over extending their lifesytle and got toxic credit (18.99% interest rate on CC) and got absolutely nothing from the Gov't.

Is that an indication that our system does not work and need a complete overhaul? There is no relief for regular taxpayer. Jobs are being exported to Asia and in NA all we do is consume with no jobs or the so called jobs are just trading on the stock market. Will this house of card collaps anytime soon?

Someone once suggested that instead of bailing out the banks, the Canadian gov't should give each taxpayer who file for income tax to the Gov't a cool $1 million instead of giving the $ to Bay street. I think it will cost far less than what we spent on the bailout and the result would be much better as business need consumer to spend in order for them to make money. Bailout means nothing as it only cover their mistake.


Michael from Toronto
said
0 0

Willow b said: "It never ceases to amaze me, here in Atlantic Canada, the scrimp/crab fishery is on the verge of collapse putting hundreds of fishermen and plant workers out of work and no help from the Feds, but they can find $ 5M to contribute to a construction of a gym. Go figure ?????"

What do want us to do - bring you crabs from Cuba? ...hike the world prices for shrimps and crabs? ...or just give you cash to do nothing?

Maybe Atlantic Canada should work a teeny bit harder on diversifying its industries after being warned for umpteen generations of the collapse of the fisheries business?

Ontario is now a have-not province and frankly we are a bit tired of bailing out Atlantic Canada with its forever whining "seasonal workforce".


Pip
said
0 0

I wonder how many posters have stopped to consider this demand for increased stimulus spending, and what it entails?

If "Grim Gordon" increases stimulus spending in Britain, he has to get the money from somewhere, either by borrowing from those who have it - China, oil-rich nations - or by printing it, thus devaluing the pound. If other G8 nations join in, that leads to the major world currencies - dollar, Euro - all being either controlled elsewhere or being devalued as well. Either way, the taxpayers of those nations will end up paying for it with even more of their income going to pay national debt.

And where does that leave Canada? The choice is to follow suit so our dollar remains where it is, at a slight advantage to our trade with our largest trade partner, the USA; or standing firm to protect our economy and avoid really major tax impositions on our citizens, but having a currency that is too strong for our exports to sell.

I'm glad I don't have to make THAT decision.


Johnny Mac
said
0 0

Folks, what do you mean, "there has been too little movement on stimulus spending?" Haven't you seen the roads in all of the Conservative ridings? They're all getting paved as I write this! Very nice to drive on, but I get car sick when I see the politics at play!


wreck76
said
0 0

"Edmonton John
Harper is intensely disliked by most Canadians,"

Hey Eddy John, I'm Canadian and I like Harper. Have you talked to most Canadians? Most of the ones I know like him. I can't imagine what the country would be like right now if iggy or the moustache man were in charge.

I agree completely with him that they should wait out some more to see how things are running before cutting more cheques.


GP
said
0 0

I think Harper is somewhat playing both ways here.

He is absolutely correct that all governments should stop and take a calm sober second look at stimulus before committing to a second or third package. Let’s take a look at what worked and what didn’t, and what has changed before charging forward.

However the Harper government has needlessly wasted time and continues to play politics with the stimulus package here.

In my eyes his statement makes him look condescending. Harper likes to play American style politics...but I’m not American, I don’t want to be American, I want politicians to focus on the job at hand and not always in campaign mode. That’s how he will earn my vote...hard work with less political games.


hollinm
said
0 0

Some of you posters are really naive (to put it kindly).The money is allocated by the feds. However, there is a cost sharing component 1/3rd by feds, 1/3 provincial/1/3 municipalities. That is the way to go. Make sure the projects being identified for stimulus spending are the projects that each level of government needs. That protects taxpayer money. As well, these projects by their sheer nature are complicated and you just don't start building a bridge etc without architectural drawings, contracts let etc. Would you want Harper to stand on the tallest building and throw the money into the wind? Sheesh some of you people need a lesson in economics and reality.


Andrea
said
0 0

The concern I have for Canada is that our govt has plans and ideas that are clashing with the UK, and USA. Besides China, UK, and USA are a few of our biggest trading partners and allies.

Canada is now in a difficult position on the international stage.





One thousand dollars to each voter NOW
said
0 0

That would be the correct form of stimulus.




Where's my bailout? Where's my stimulus?
said
0 0

Harper too busy posing in Italy.

Do something useful, Harper: resign, useless.




Jeffery
said
0 0

It sounds what the G8 leaders said is completely opposite to Harper's viewpoint.It's a little funny!
That's why Canada has become the last one on G8 list.KEEP GOING,WE WILL BE DROP OFF under the conservative!


Gate in Gatineau
said
0 0

Enough of short-term stimulus. Our government should only invest in areas that we are competitive in consequence guarantying mid-term and long-term jobs.


Nancy: Brown is going down
said
0 0

Brown wants to spend more and Britain wants him out but Brown who is the unelected Prime Minister refuses to call an election because the Conservatives are so far ahead in the polls.

Obama never ran a kool aid stand so he has no idea what he is doing.


Harper should stop doing nothing
said
0 0

and start doing something.

Harper's attitude toward government is to sabotage government and then push his ideology that government doesn't work.





Red Tape Guy
said
0 0

It's clear that most people have no idea how Government financing works. I'll give you the cliff notes version:

An entity or organization creates a plan for spending throughout the year, allocating funds based on Parliamentary votes. For example, Vote 1 funds are for Operations and Maintenance, and Vote 5 Funds are for Capital assets (large equipment, buildings).

In order for the money to be sent out by government, the expenditures have to actually have been made. So if Joe Construction plans for $100,000 worth of expenditures of Government money, he doesn't get it all immediately because he doesn't need it. If Joe Construction racks up an expenditure of $50,000, then that is all he needs, so the Government transfers the funds, holding back the rest until more is needed.

It works the same way with the Conservatives stimulus package. You wait until there is a plan in place, and once expenditures are made, you transfer the appropriate funds, holding back the rest until it is needed. Therefore, when Harper says that 80% of stimulus funds have been committed, that is just what he means. The money is sitting in Ottawa until it is needed. What you DON"T want to do is give out Millions of dollars for projects that haven't been started or completed yet. Once the shovels are in the ground and workers have begun earning wages, the money will flow. Until then, it is safely tucked away until needed.

Can you imagine the chaos if you gave out all of this funding before it was needed? For example, what if some incompetent dolt like the Mayor of Toronto was suddenly given $100 Million dollars of stimulus money to build bridges


Red Tape Guy
said
0 0

or repair roads? Knowing Miller's history, I would suspect he'd "Solve" the garbage workers strike by meeting their demands for more money or benefits.

And after he caved in to yet another Union, he'd moan and complain that the Conservatives don't like Toronto enough to provide the funds needed for infrastructure.




Harper thinks it's still the Reagan 80s.
said
0 0

Wrong again, Stevo.


guppies
said
0 0

Harper send me $ 500k and I vote for you on the next election no matter rain or shine.

You just spend 30+B to Gm (An Americian company) As a Canadain asking for $ 500k to bail me out. I don't think I am asking too much. And I will purchase a Camaro as a return. Good deal right ?


Bill in BC
said
0 0

I see the "usual suspects" are demanding that more money be spent but of course don't want to pay for it.
The economy is already begining to recover. Wait and stop panicing.


Ray Jacques, Glen Robertson, ON
said
0 0

To wreck 76

I do not like Harper mainly because he is dividing our Country with excessive and divisive partisanship. He also doesn't have any vison or ideas.

He has yet to pass any legislation that makes any siense, and for some inexplicable reason, wants to sell-off AECL instead of repairing the Maple 1 & 2 reactors. Wasn't it him who screamed in Parliament that providing isotopes was a medical crisis / emergency and the person who he blamed for not allowing it to operate due to safety concerns, Mrs Keene was fired "because she was a Liberal apointee" - never mind she was the top person in her field in the atomic energy world !! - just mind bogling incompetence on Harper's part. There are at least (20) other debacles brought about by the dishonest and incompetent Conservatives. Pauil Martin was a saint compared to Harper

But perhaps more importantly, almost 65% of Canadians did not and do not vote for him - so we have a minority government who does not have the support of the majority of Canadians, trying to act like they do and it is getting onto (4) years now.

Time for an election and a change!


little spender sask
said
0 0

i can't beleive how many folks think the government can fix this. The market is correcting it self thats all the game now seems to be lets try ro maintain a stimulus market that will in time correct it self again you can't buy prosperity


Mary Theison
said
0 0

The truth is many Countries are split,on whether or not to provide more stimulus funding. The U.S has announced,that out of the $787 Billion provided for stimulus,only 15% of that money,has yet to reach the economy.
Why provide more stimulus,when the current funds have not even had a chance yet,to serve their intended purpose?


GG
said
0 0

My concern is that we havent addressed the systemic problem that created this mess. The stimulus packages are to assist us in this difficult period, to weather the storm. Yes it has to be paid back. Without the stimulus our global economy would have crashed and burned. Whether another round is necessary depends on many factors including how well the current stimulus is working. I have to admit I am very disappointed that the government has been so slow to 'ensure' this allocated funding isnt moving fast enough. They may not control the shovels but they should put conditions on to fast track the money and ensure it goes to stimulating jobs. Without a stable job market people will slow down discretionary spending. I suspect most people are also trying to pay off their personal debts. Our economy was unsustainably consuming beyond our means and created a false growth economy. But to reiterate my biggest concern is that we dont use tax payer dollars to essentially bail out the economy and give it to the greed lords who got us into this mess and have bought their secluded island retreats already on our dime through immoral profiteering and speculation value creation. I am also afraid our global governments have been bought out by the elite to maintain control and power in a very secretive way. Google Bilderberg if you dont know about this. Its time we citizens of the world take back our democratic countries...as they were meant to operate before greed made us serfs to those self serving MoneyLords.


Peter- Van. Island
said
0 0

It's interesting how evenly divided the yeas and nays for the comments are. There is certainly not much agreement over the way the government is handling the recession!


Dave from Toronto
said
0 0

"That's been our focus in Canada and I would urge the same priority elsewhere."

Really?? Oh come on....REALLY??? lol


Concerned citizen
said
0 0

When you run a financially unresponsible government like Steven does, there's is every need for a fake stimulus plans. If Harper would stick to the truth and keep his promises, we would have a little more respect for him. The forest sector is dead, farming in trouble. Why doesn't he delivery the stimules package now instead of just talking about them? He's likely hoping people won't notice the lack of monies being delivered, keeping it for vote buying and putting it towards the huge deficit that this government is building. The problem with Harper is that he keeps making his plans as he goes along. He degrades the liberals for their lack ofpolicies but he doen't have any of his own. What a sham and bungling shyster he has become. Goodbye Stevie. Your a disgrace and a total failure as a PM.




Steve Lawrance/Saskatoon
said
0 0

Interest rates cannot get any lower, stimulus spending has been approved if not received, auto bailouts have been handed out, yet the stock markets are still in free fall. Of course, executive and government bonuses are still the order of the day. If you desire change, you must vote for it, including abandoning out-of-touch philosophies and their spokespersons.


Doug BC
said
0 0

Mr.Harper is right on the money,just as he said that last fall was a good time to invest in devalued stocks.I think the makrets are up 30% or more since then.While I think the timing of that advice was more a matter of good luck,than anything,few Liberals are keen to mention the gains that any one of pus could have reaped if we had folloed that suggestion.
That aside,we all need to remember that Canada is a bit player in the global economy.The total wealth of all of Canada is a pitance of the global economy.It is for that reason,that we are not in a position to "save the global economy'.Even if more stimulus was needed,I hope Mr.Harper waits for the results of the spending he has comitted to before he piles any more dewbt on our children and grandchildren.
Spending the entire amount possible right now would be foolish indeed.We need to see how this recession is going to unfold.If we spent to much now,we might very well find ourselves unable to take advantage of any opportunities,or to react to future events.
Keep some spending capacity in reserve.At least until we can figure out what kind of spending will get the most bang for the buck.
Liberals are talking out of both sides of their faces these days.On one hand whing about big deficits,and,at the same time wanting more spending and more "free" social programs.Wake up my friends.There is no such thing as "free".
If we keep our wits about us,we will get through this.
But spending,just for spending sake,is not the answer.We are still if FAR better shape than the UK,the rest of Europe,or the USA.A fact we seem to take for granted all to often.


B.Greenfish66
said
0 0

Of course world leaders/big banks/big biz will more than likely want to skimp on stimulus...They all got their bail-outs..Why wouls they want to give money out to others...It's all B.S.(bailout/stimulus)..They created and fabricated the whole game to ,yet again cotro the sheep ..like they have so many times in the past...It a never ending cycle of bubble and bust..The only one Ol' leaders,Oil biz ,scammin insurance/banks seem to know ...Control the masses through cresit and digital cash..Unitl they prove different ..It the same ol' same ol..Why noone trusts them..Too many games/too little gains/No positve results..Thye create the problems then pretend to solve them in commitees..I guess they Gotta make themselves look uselful somehow..


eddytoronto
said
0 0

lurching towards ‘debt explosion’ with long-term interest rates on course to double!


The impact would be devastating by making it punitively expensive to finance national borrowing will create debt explosion!

the UK, too, as public debt is soaring. A US crisis would have implications for the rest of the world, in any case.

Using historical examples for his paper, New Evidence on the Interest Rate Effects of Budget Deficits and Debt,a percentage point increase in the projected deficit-to-GDP ratio raises the 10-year bond rate expected to prevail five years into the future by 20 to 40 basis points, a typical estimate is about 25 basis points”.


Considering the track record of the global elite, the government-mandated vaccination program now in the works — as Ghislaine Lanctot and Jane Burgermeister warn — will serve the eugenicist plan to depopulate the planet. A contrived pandemic will also set the final stage for the implementation of martial law and a high-tech surveillance and police state grid.

This is not a joke please understand we will be toppled and become a third world country in 3 to 5 years...Depression will last 29 to 50 years!

You think JAPAN is Bad You wait and See!


WESTERNER
said
0 0

Stimulas Packages all need attention to detail - why shell out monies WITHOUT seeing results! "bang for Canadian Bucks". I for one am tired of tax dollars being wasted and not seeing any results or inappropriate spending - why should our great grandchildren pay for our extreme bad spending habits!!! Way to stand up for the Taxpayers rights - on that note no more monies for Union workers - or be fair with all Canadians on tax monies shell out.


Cut the military spending in half NOW.
said
0 0

You want to help the US imperial war effort, you send the US imperial war command your money.

No more of my tax money for the US wars.

No borrowed money that I'll be taxed for in the future, either.




Randy
said
0 0

I don't always agree with it, but I understand why we give money to 3rd world countries. But why would we give any money to a member of the G8? Especially when there are no shortages of worthy causes right here in Canada.


Sojo
said
0 0

It seems the other leaders agree that Harper is wrong; so do I.


Red X
said
0 0

Dearest Doug BS, Harper does not know what he is talking about the economy because nothing is certain.

TSX 9653.45 is about the level it was at when Stephen Harper made his remark about "good time to invest"

Also, Harper & the Neo Cons were elected on the promise of balanced budgets not the projected $156 billion in Deficits...


Stephen in SC
said
0 0

Harper is right! There is no more need for a second stimulus. Here in the States, only 15% of the original money has been spent..a second is NOT needed and neither Can/USA can afford another one.
BTW..is CTV going to ask PM Harper about the new global eurodollar coin each G8 leader received, which will replace the US & Cdn dollar? I doubt it.


Westender, Windsor,Ont.
said
0 0

The jobs are gone. How is the economy going to turn around when people have lost their jobs, their pensions and savings?
Throwing money around does nothing unless there are JOBS to be had. The money is going into the wrong pockets.


Enough already with the Spendulous Money!
said
0 0

The spendulous money in any G8 country has either not started flowing yet or it has barely started to flow. Aside from the fact that no spendulous was ever required (because this is nothing more than a recession), it is becoming more and more obvious that governments are simply using the economy as an excuse to expand programs and throw money down the drain. Why else would they advocate more spendulous when they don't even know the effects of the original spendulous money?

And as for Harper; he may be saying the right thing today, but I don't trust him (Layton or Ignatieff) further than I can spit.


Niagara George
said
0 0

Dougy in Wiarton

You say the best thing he announced was the "slashing of all this foreign aid business." I didn't read that and I certainly hope it isn't true.

If we quadrupled our foreign aid, we could half our military budget. We are the haves. The have-nots cannot even imagine what we have.

We cry about phone calls interrupting our television watching. Our world has almost stood still because Michael Jackson has died. Hundreds of thousands have starved to death in the past week. We don't hear about it and we don't care.

If the rich nations don't share soon, the world will go into a terrorism revolution like we cannot imagine.


observer Natty,ON
said
0 0

To date Canada has been Long on flowery announcements and Short on Substance.
$Billions promised with great fanfare are yet to materialise. Money spent on Infrastructure is an Investment in the National future. This Govt's penchant of preferential treatment for it's powerbase fosters disunity.

Harper's reliance on Natural Resources to bail Canada out could easily back-fire. To enrich yourself by selling require Buyers with Money.


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