VICTORIA -- Conservative Leader Stephen Harper defended his cool-headed approach to the global financial crisis on Wednesday, accusing the opposition of trying to exploit "panic and pessimism" in the markets to win votes.
Harper has come under fire for suggesting Tuesday that the plunge in stock markets has created "great buying opportunities." The opposition parties say the comments reflect the prime minister's failure to understand the plight of Canadians worried about their mortgages and life savings.
Liberal Leader Stéphane Dion is interviewed by VJ Hannah Simone during an appearance on the MuchMusic teen show Much on Demand in Toronto Wednesday.
Harper said Wednesday he wasn't trying to get into the business of financial advice, but rather trying to convince the public that the government isn't panicking, and Canadians shouldn't either.
"We know that people are worried. They have a right to be worried about what's going on in financial markets. But... the prime minister doesn't join in a wave of stock-market panic and pessimism around the world," Harper told reporters. "What the prime minister does is make sure we have a long-term plan, that we're acting on it, and that we are identifying good, long-term investments for the Canadian economy so we will continue to create jobs and move forward."
He hit back hard at his political opponents for portraying themselves as more caring than he.
"Tell me how imposing a carbon tax on our economy right now that would drive up the cost of everything Canadians buy, tell me how that shows you care and understand the situation," he said. "It simply shows they have the wrong policies."
As he did Tuesday, Harper invoked his mother's shrinking stock portfolio to show he understands the impact of the crisis.
"I use my mother as an obvious example, because she's the person closest to me who's most worried about the stock market these days. And believe me, I get quicker updates from her on the stock market than I do from the Department of Finance."
Harper said he tries to adopt an approach in government that reflects the values of his parents, who worked hard, saved when they could, and planned for the long term.
"We ask ourselves: How do you respond to crises? Well, the biggest thing I've learned from my parents is the most important thing about a crisis is, first of all, try to avoid it, (but also) have a plan way in advance," he said.
At a campaign event Wednesday morning, Harper announced he supports a proposal by French President Nicolas Sarkozy to convene a meeting of G8 leaders on the global financial crisis before year's end.
He said Canada will take further moves to ease the credit crunch, but suggested any moves would likely be "market-based" interventions by the Bank of Canada, not new tax or spending initiatives by the government.
In a televised interview Tuesday, Harper promised the government would take some action to deal with the credit crunch "in the next few days."
On Wednesday morning, the Bank of Canada announced it's cutting interest rates by 50 basis points as part of a co-ordinated effort by central bankers worldwide.
With polls showing the Conservative lead shrinking, Harper also sought to manage expectations for the Oct. 14 election. On the campaign trail, the Conservative leader has been asking voters for a "stronger mandate." On Wednesday, he suggested he would be satisfied with just a win.
"As a Conservative, I'm satisfied with any mandate. If we can win two victories in a row, it's a major advance for the Conservative Party."
-- Canwest News Service
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