Liberals: Out-of-touch Harper on tumbling markets – Our plan “has been working”

John McCallum
John McCallum

LIBERALS say that markets are tumbling and Canada is the only G7 country in recession, but Prime Minister Stephen Harper thinks his dismal economic mismanagement is working: “We need to stick with a long-term plan that has been working. … We believe we should stay on track.” (Stephen Harper, Drummondville, Quebec, August 24)

“Canadians worried about their investments and retirement see an out-of-touch Prime Minister ducking responsibility and blaming everyone but himself,” said Liberal candidate for Markham–Thornhill, John McCallum, the former Royal Bank of Canada Chief Economist.

“Stephen Harper told Canadians in the 2008 election there was no recession, only to admit the truth right after the election. He’s doing the same thing again now,” said McCallum. “Just as in his PMO scandal with Mike Duffy, Stephen Harper is not telling Canadians the truth. He cannot be trusted.

“Canadians have had enough. We need a new government and a new plan to grow this economy.”

Canada is the only G7 country in recession – the second recession on Harper’s watch – because of reckless Conservative mismanagement, said McCallum.

* Harper has the worst economic growth record of any Prime Minister since R.B Bennett in the 1930’s.

* Harper’s policies benefit the wealthy while letting the middle class fall behind.

* Harper ignored warnings about housing bubbles and banking weaknesses in the United States.

* Harper eliminated all previous federal contingency reserves and prudence factors.

* Harper has run eight consecutive deficits, including this year.