Flaherty says Canada to meet G7 crisis commitments

Mon Dec 8, 2008 12:18pm EST
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TORONTO (Reuters) - Canadian Finance Minister Jim Flaherty said on Monday that no specific action by any one government can make the global economic crisis disappear but that Canada will continue to do its part.

Flaherty, who spoke to reporters after an event in Toronto, said Canada's government will continue to fulfill its obligations to stimulate its economy under an agreement by the Group of Seven most industrialized nations to try to reinvigorate the world economy.

He also said he has received input from the opposition Bloc Quebecois about the budget he is preparing, but has not received proposals from the Liberals or the New Democratic Party, the two other opposition parties. During a political crisis last week that threatened to bring down the Conservative government, the government asked the opposition for ideas on stimulating the economy.

The three opposition parties recently signed a coalition agreement that has the potential to topple the Conservatives from power.

But the government managed to win a rare suspension of Parliament last week and avoided being ousted by the coalition, which said the government's economic plan is inadequate.

Flaherty is scheduled to deliver a budget on January 27.

(Reporting by Scott Anderson, writing by Frank Pingue; editing by Peter Galloway)

<p>Canada's Finance Minister Jim Flaherty speaks during Question Period in the House of Commons on Parliament Hill in Ottawa December 3, 2008. REUTERS/Chris Wattie</p>