New Democrats slam economic update

OTTAWA – New Democrats slammed the Conservative Economic Update today as it failed to include desperately needed measures to stimulate the economy.

“This is not a stimulus package to kick-start the ailing Canadian economy. It is a failure for Canadians who need immediate and bold action,” said New Democrat Leader Jack Layton. “There is nothing in today’s announcement that will create jobs, assist those thrown out of work or bolster consumer confidence.”

As world leaders take immediate initiatives to stimulate employment and foster economic growth, today’s Update includes no immediate stimulus measures.

“Economists from all stripes have called for urgent and dramatic stimulus measures to prevent further economic unraveling,” said Layton. “Yet today the government refused to act. With higher unemployment, working families will pay the price for this government’s refusal to take immediate action.”

The Economic Update also attempts to engineer a surplus with unsubstantiated savings from program spending reviews and selling government buildings to avoid what the Parliamentary Budget Officer suggests will be substantial deficits over the next two years.

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