OTTAWA (Reuters) - The Canadian government took action ahead of the current financial crisis that has prepared banks and the economy well but more action may be needed, Prime Minister Stephen Harper said on Monday.
“We took action early on 40-year mortgages. We took action to improve disclosure both on the lending side and on the bank side. So there’s been a number of actions that the government taken -- (including) reducing taxes early -- that have stood us in good stead,” he told BNN television.
“Now obviously we may have to take additional actions, but I think what’s important is that we stay with the fundamentals of our plan, which is to keep our budget balanced, to keep our taxes going down, and to make sure when we’re spending money we can afford that and it’s directed toward investment and toward job creation.”
Reporting by Randall Palmer; editing by Rob Wilson