Canada plans no new steps to cool housing market: finance minister

Wed Aug 1, 2012 8:04pm EDT
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But Flaherty did say every mega-deal had to be reviewed on its individual merits, on whether it would be of net benefit to the country and if it passed the national security litmus test.

Prime Minister Stephen Harper said last week the country will study the $15.1 billion bid carefully and no one should make assumptions about whether the proposed takeover will be green-lighted., Flaherty said he shared that view.

"We have had some significant investments, Chinese investments, in Canadian resource companies. And we expect that there'll be continuing relationship that way with China," he said. "But when we get into reviewable transactions, that's a different situation."

"It's a question on each transaction, like the Nexen transaction, of assessing the net benefit test, and the national security test."

(Reporting by Edwin Chan, writing by Randall Palmer, editing by Peter Galloway, Gary Crosse and M.D. Golan)

A local resident watches a house being moved along a street in Vancouver, British Columbia July 26, 2012. REUTERS/Andy Clark