(RTTNews) - A day after Canadian Prime Minister Stephen Harper won election but fell short of winning for his Conservative Party a Parliamentary majority, he unveiled a six-point economic plan to insulate the country from the ongoing global financial crisis, media reports said.

Harper’s economic plan announced Wednesday includes controlling public-spending, introducing a fiscal plan before Parliament by the end of next month, calling for another meeting of G-7 finance ministers to build on past progress and attending next month’s G-20 meeting.

“The No 1 job of the Prime Minister of Canada is to protect this country’s economy, our earnings, our savings, and our jobs, during a time of global economic uncertainty,” Harper said. “The mandate we received allows us to continue moving forward.”

His remarks were intended to address initial impressions that he underestimated the effects of the global credit crisis.

Earlier, he shot himself in the foot by saying during a parliamentary debate that Canadians were not concerned about either jobs or mortgages. A few days later, he said stocks were cheap just before the country’s main stock exchange had its worst week in almost 70 years.

He said he would convene a conference of experts and provincial officials to discuss the economic challenges, among other things. He would also meet with European Union leaders to discuss economic issues.

He said the newly-elected Conservative minority government would also issue a fiscal update before the end of next month to address the global economic crisis. He vowed that his government would take “whatever appropriate steps are necessary” to ensure Canada’s financial system does not wind up at a disadvantage.

Tuesday’s election results indicated that Harper’s chances of securing a majority were hurt by a slow response to the global financial meltdown.

Harper called snap elections last month, hoping to get a majority, but the Conservatives fell 12 seats short of the 155 needed for an absolute majority, and will continue to be forced to rely on opposition support to pass budgets and legislation.

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Posted in Categories: Canada, Economy, Eurozone, Releases, Stocks.

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