What's New

January 27, 2009 at 4:59 PM EST

The package will push Ottawa into the red even sooner than expected and rack up the first annual deficit in 12 years – a hole the Tories don't expect to emerge from for half a decade.

The Conservatives say their measures – which focus heavily on putting shovels and hammers to work across Canada immediately – will create 190,000 jobs over the next two years.

Finance Minister Jim Flaherty said the measures are necessary to shield Canada from a “synchronized global recession” being felt everywhere.  Click here for the whole article.