Canada Economic Update Won't Include Economists: Tories Don't Want To 'Worry Canadians'

Carney Flaherty

The Huffington Post Canada   First Posted: 08/17/11 12:08 PM ET Updated: 10/17/11 06:12 AM ET

When Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty update the House of Commons finance committee on Canada's economy Friday, they won't be joined by prominent economists.

That's because Conservatives on the committee don't want to "worry Canadians."

"It's imperative, in my opinion, that we not do anything that might worry Canadians," Conservative MP Shelly Glover told the Globe and Mail. "I think that hearing from the Minister of Finance and the Bank of Canada will help to reassure them, as they should be, that there is concern, but that we are proceeding, as parliamentarians, in their interests."

Glover was responding to a motion by NDP MP Peggy Nash to have a panel of private-sector economists appear before the committee.

Conservative MP Randy Hoback suggested the private-sector economists would give a more muddled view of the economy than the head of the central bank and the finance minister.

"I want to make sure that we don't have people coming into this meeting and start speculating and start giving their opinions and their impressions which are based on what? A crystal ball?" Hoback said in committee.

"Mr. Hoback may forget that Mr. Flaherty has relied on said crystal balls for years," quipped the Globe's Michael Babad.

Recent economic data suggests that Canada's economy may have slowed considerably since the last time Carney spoke publicy. Statscan reported Tuesday that manufacturing sales posted an unexpected decline in June, hitting their lowest level since November, 2010. Exports fell 1.7 per cent in June, widening Canada's non-U.S. trade deficit from $1 billion to $1.6 billion.

Economists told the Globe they expect Carney to acknowledge the economic turbulence and maybe even echo Federal Reserve Chairman Ben Bernanke’s recent commitment to keeping interest rates low for a prolonged period of time.

"I think [Carney] will reinforce this notion of lower [interest rates] for longer," TD Bank deputy chief economist Derek Burleton told the Globe.

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When Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty update the House of Commons finance committee on Canada's economy Friday, they won't be joined by prominent economists. Th...
When Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty update the House of Commons finance committee on Canada's economy Friday, they won't be joined by prominent economists. Th...
 
 
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02:03 PM on 08/22/2011
economists don't worry me Tories....YOU DO..
11:34 AM on 08/20/2011
The conomists don't worry me. Harper and Flaherty worry me a lot. Why do they want the public kept in the dark. turn on the light and see how they have wasted our tax dollars on tony Clement's get elected quick scheme, one billion for three jails even though the crime rate has been dropping for twenty years, 60 fighter jets that are a nightmare, a billion dollars for the G20, and suppressing the press. Why is Harper and Flaherty afraid to answer questions. That really really scares me.
BritishColumbian
American/Canadian liberal
07:50 PM on 08/18/2011
Yeah, all those pesky experts like economists and scientists and environmentalists and accountants just "confuse" people when they are being force fed the conservatives agenda which too often is contrary to reality and the law.
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HUFFPOST SUPER USER
piceaglauca
The picture says it all....
06:34 PM on 08/18/2011
They have enough worries with the market.
HUFFPOST SUPER USER
relentless63
03:16 PM on 08/18/2011
Keep us in the dark, let the crisis build, spin it and further whatever plans they don't want us to know about.
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HUFFPOST SUPER USER
rickthaluddite
What noisy cats are we
04:29 PM on 08/18/2011
I know what they have planned-- more cuts to social services-- more tax breaks for "job creators"-- smaller transfer payments for healthcare-- less KY when you get reamed.
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richjustdonothaveenough
To a 3rd world America
08:43 AM on 08/18/2011
Typical of Harper's behaviour. Treat the citizens of Canada like children, filter them from the bad news of how bad a job they are doing.
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HUFFPOST SUPER USER
piceaglauca
The picture says it all....
06:36 PM on 08/18/2011
I'm on your page. Harper was never good on transparency. It is all about "watch what I do, not what I say".

Did his lips move?
BritishColumbian
American/Canadian liberal
07:52 PM on 08/18/2011
In other words keep the propaganda machine going and the blinds closed.
10:08 PM on 08/17/2011
More proof that Harper and co. like their heads up their asses. Seriously, when will the stink get to them?
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09:35 PM on 08/17/2011
"What me worry?" A.E. Neuman

What makes me worry is a government that wants to treat me like a mushroom.

Keep me in the dark and feed me manure. (to be polite about it.)
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HUFFPOST SUPER USER
piceaglauca
The picture says it all....
08:51 PM on 08/17/2011
Does blue signal a dreary economy?
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HUFFPOST SUPER USER
piceaglauca
The picture says it all....
08:49 PM on 08/17/2011
The chief economists can speak for themselves. The stock market speaks for itself. The Consumer price index speaks for itsself the GNP and GDP speak for themselves. Canada's currency speaks for itself.

Is the government going to limit this information also?
aintnoliberalnow
Old,cranky and retired
08:11 PM on 08/17/2011
Famous quotes
"What me worry"? Alfred E Newman Mad (as a hatter) Magazine
"Don't confuse me with facts, I am making a decision! George Bush (Both of them)
"When is a truth a truth. well when it is a truth it is a truth". Jean Chretien (in one of his more lucid moments)
"lay back and think of England" Charles to Dianna on their marriage night.
So given the history of all parties here, Flaherty fits in rather well (Alfred E Newman was proposed for President numerous times by his reading public so he qualifies as much as any other power grabbing wannabe.) I just don't see the problem, there is total consistency.
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rickthaluddite
What noisy cats are we
04:32 PM on 08/18/2011
Chretien's quote was a "proof." This was his reason for not sacrificing Canadian troops in Iraq.
http://www.youtube.com/watch?v=EbaxSNh3KB4&playnext=1&list=PL8C131AF03F8EAD0C
07:25 PM on 08/17/2011
What a paternalistic attitude... there, there, don't worry, Tories are taking car of everything. Don't know about you but I like to know the facts; I believe I'm intelligent enough to understand them and, if I don't, I'll ask questions... that's the way grown-ups do it...
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09:57 PM on 08/17/2011
Finance ministers have always been very careful about what they say and how they say it. They know that every word will be scrutinized, and that a slip-up can cause chaos in the markets.

This is not paternalistic, it's just part of the job.
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BCSLAVE
Got a key?
06:31 PM on 08/17/2011
This meeting will be a not fact zone!

Again, no stats, no facts, no law, no empirical data of any kind only our policy of listening to our priests.
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fromdnorth
OK I checked my micro-bio (didn't know I had one
06:25 PM on 08/17/2011
Since I follow the rantings of the Tea Party, I am never surprised at what Harpo comes up with...
06:17 PM on 08/17/2011
FLAHERTY RUNS BARTERTOWN!!!!