Yesterday, federal Finance Minister Jim Falherty released a fiscal update regarding Canada's approach to the international financial crisis. All opposition parties, Liberals, NDP and the Bloc, are vehemently opposed to the update and have all vowed to vote against it when it comes to that. And unlike during the last parliamentary session where Liberals would be absent for votes so that the legislation would pass they are saying the will show up in full force and if it means bringing down the government then so be it.
Layton, Dion, and Duceppe have all stated they will vote against the current update unless serious changes are made to it and the Conservatives are staying strong and won't back down. So what does this mean? It means that if the update is voted down, it will be considered a confidence motion and the Conservative minority government will no longer have the support of the House of Commons and can no longer be the government.
This does not necessarily mean that we will be headed into another election. Basically, if the government loses the confidence of the House of Commons then the Governor-General will ask the opposition parties if they are able to form a government either through coalition or other means. This is a very rare occurence and usually it leads to election. However, there are reports that former Liberal prime minister Jean Chretien and former NDP leader Ed Broadbent are in meetings right now discussing a possible coalition between Dion's Liberals and Layton's NDP.
The other question here is regarding the Liberal leadership race. Right now the three front runners are current leader Stephane Dion, and leadership hopefuls Bob Rae and Michael Ignatieff. They are also in meetings with Chretien and Broadbent to figure out a leader instead of waiting for the leadership convention in May.
So depending on the outcomes of these meetings we may either see ourselves headed for another election, we may see Harper and the Conservatives lose power and a coalition government between the Liberals and the NDP take over, or we may see the opposition parties back down and Harper passing the fiscal update.
More to come...
- DCM
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