Wednesday, January 7, 2009

Canada budget to address credit access-minister

MONTREAL (Reuters) - Canada's upcoming budget will address the issue of access to credit and contain a clear plan for the country to eventually emerge from deficit financing, Finance Minister Jim Flaherty said on Tuesday.

Flaherty, who warned that both domestic and international economic conditions continue to deteriorate, said the Conservative government is also weighing further tax cuts as a way of stimulating the economy.

"The No. 1 issue that I've heard so far across Canada has been access to credit, access to financing ... so yes that is an issue, that is the access to credit, we expect to address in the budget," he told reporters in Montreal, without giving specifics.

Speaking to reporters a day after he met with the chief executives of Canada's big banks, Flaherty said the government has agreed to form a working group with the banks to address the issue of credit availability for businesses and consumers.

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