Economic Challenges and Economic Growth

economic growth: The loonie closed at its lowest level since August 2004, hitting 75.4 cents U.S. Visit BNN.ca for complete and in-depth coverage of the markets Speaking in Quebec, Harper acknowledged that Canada is facing "economic challenges," but pointed to the Conservative record of investing in innovation, infrastructure, immigration, training, and trade to create economic growth. "We're making investments in the things that will get us through this, and position us well for the long term," he said, according to CTV. He also highlighted Canada "disciplined" financial framework, including a strong banking system, a balanced budget, and low taxes. The S&P/TSX composite ended the day down 421 points while the Dow Jones industrial average lost 588 points. By contrast, Harper said, the NDP and Liberal Party are proposing large-scale permanent spending increases, which they would finance through deficits and tax increases. "We think that is clearly the wrong track. Market researchers at CIBC, meanwhile, offered a delicate warning to investors. It would be clearly damaging both in the short term and the longer term in this country," he said. "Given the challenges around us, we need to stick with a long-term plan that has been working and will work." Harper office released a short statement Monday stating that he had spoken on the phone in the morning with Bank of Canada Governor Stephen Poloz. "Prime Minister Harper and Governor Poloz discussed the recent decline in global stock markets and commodity prices, slowing growth in China and emerging markets and the potential impacts on Canada economy, the statement read. (www.immigrantscanada.com). As reported in the news.