Canada presses G20 to fulfill economic promises

Thu Apr 29, 2010 11:41am EDT
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OTTAWA (Reuters) - The Group of 20 industrialized and developing nations must not lose its sense of urgency in finding a fix for the world economy, Canadian Prime Minister Stephen Harper said on Thursday.

Harper, who will co-chair a G20 summit in Toronto in June, said countries must now complete the short-term stimulus packages they brought in to lift them out of recession, and then exit from those measures.

"We acted, and avoided a cataclysm," he said of the stimulus. "However, on other matters, we have only agreement to act. What matters will be acting on the agreement."

Speaking to a conference of business leaders in Ottawa, Harper reiterated Canada's opposition to global taxes or levies on banks to produce funds that could be used to fund future rescue packages.

"Just as you can't tax an economy into prosperity, you can't tax the financial sector into stability," he said.

(Reporting by David Ljunggren, writing by Janet Guttsman)

<p>Canada's Prime Minister Stephen Harper speaks during Question Period in the House of Commons on Parliament Hill in Ottawa April 28, 2010. REUTERS/Chris Wattie</p>