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Canada says will spend bulk of stimulus fastMar 10 2009 4:22PM EDT

By David Ljunggren

OTTAWA (Reuters) - Canada will start pouring C$20 billion ($16 billion) of stimulus spending into the economy on April 1 as part of its plan to fight off the global financial crisis, Prime Minister Stephen Harper said in an upbeat speech on Tuesday.

Harper, whose minority Conservative government plans to spend C$40 billion in stimulus over the next two fiscal years, said his officials have slashed red tape to ensure the money can be spent quickly.

"As a result, by April 1, the government will be able to start pumping C$20 billion directly into the economy, representing close to 90 percent of the stimulus for this fiscal year," he said in a speech in Brampton, Ontario.

The prime minister, criticized for mishandling the economic downturn, said the government's actions would ensure that Canada emerges from the crisis in the best position of any advanced nation.

"We will not turn the corner on this global recession until the American financial sector is fixed," he said.

"Canada was the last advanced country to fall into this recession. We will make sure its effects here are the least severe and we will come out of this faster than anyone and stronger than ever."

Michael Ignatieff, leader of the official opposition Liberal Party, said Harper has consistently underestimated the gravity of the crisis and was not telling the full truth about how serious the situation is.

"He was on a certain Conservative planet ... I don't want him to tell stories to Canadians. They are in trouble and they have the right to the truth about the situation, even if it is cruel," he told reporters. read full article...