PICKERING, Ont. — Prime Minister Stephen Harper says the government will react with "strong fiscal discipline" to the "downturn" in the Canadian economy, which he blamed on the recent downward trends in the global economy.
Harper says Canada's economy has been negatively affected by the "crisis downturn" in Europe, a "significant slowdown and some other related economic problems" in China and "very negative first-quarter growth" in the U.S.
He made the comments at an announcement Saturday in Pickering, Ont., where he promised to double the federal government's initial contribution to the Rouge National Urban Park.
Oil prices and some commodity prices were particularly affected by the economic slump, which Harper says he will react to with "strong fiscal discipline."
Harper says lower taxes and large scale investment in the Canadian economy, through contributions like universal childcare benefits, would help stabilize the country's economic future.
He added that the federal government will not "spiral ourselves into deficit" and face credit downgrades, hike taxes on businesses and create an "investment freeze" or take away tax breaks to Canadian famiiles.
"Every expert in the world thinks that this country is going to grow as the year goes on and has some of the best growth prospects looking forward," Harper said.
"As long as we stay on a plan for low taxes, balanced budget and low debt, this country is going to continue growing."
