The Canadian Press

2008-11-27 | Fiscal Update

Preview Clip

On November 27th, Finance Minister Jim Flaherty announced a fall fiscal update. The Harper government said the global economic crisis would mean a brief recession for Canada and possibly a deficit. Flaherty's fiscal update acknowledged the economy would shrink in the last quarter of 2008 and the first quarter of 2009. But Flaherty did his best to put a good face on the pending economic storm. (The update provided no big economic stimulus package and touched off a confrontation with the opposition parties over a measure to eliminate government funding for political parties. The Tories backed down on the funding cut but the opposition said it still planned to defeat the government as soon as possible in a non-confidence motion because the fiscal update did nothing to help the economy.)

Date: 2008-11-27
Placeline: OTTAWA, Ontario.
Source: The Canadian Press
Length: 18 seconds

Transcript Prediction: << are sensible Canadian approach is paying off our country will come out of this economic crisis in a strong position because we are going into it in a strong position >>