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Canada to boost infrastructure investment to spur economy

(Xinhua)
Updated: 2008-11-11 09:01

OTTAWA -- Canada will speed up infrastructure investment to spur the country's economy in the face of the global slowdown, Prime Minister Stephen Harper said Monday.

"We all agreed, I think, that we should see infrastructure spending accelerated," Harper told reporters after meeting with premiers and leaders of the country's 10 provinces and three territories in Ottawa.

"This will help support general economic activity. I am very confident that that is going to occur over the next year," he said.

Harper also discussed with the regional leaders about pension regulations and the battered manufacture sector in the country, especially the auto sector.

He promised to examine all possibilities to help the auto factories in Ontario and Quebec out.

While other countries have provided funds to bail out financial institutions and industries left crippled by the crisis, Harper's government has faced criticism for failing to take enough action.

Last month, the Conservative government agreed to buy up 25 billion Canadian dollars ($20.7 billion) in bank- held mortgages in an effort to inject liquidity in the system and free up credit funds for Canadians.