Ottawa Mayor Larry O'Brien sent a letter to the federal and provincial governments Friday, telling government officials the tech industry must be part of a federal stimulus spending package to help limit the burden of a recession.
O'Brien, who is a former tech executive, says it's not up to the municipal government to help the technology industry weather the financial storm.
Federal Finance Minister Jim Flaherty has said the federal government has already earmarked about $3.5 billion in restructuring loans and financing for the auto industry. Financial help for other sectors are also being considered.
Papers released by the federal finance department, suggest the government is expected to post at least four years of budget deficits even before Ottawa spends a dime on stimulating the economy.
Ottawa is officially projecting deficits of about $5 billion next year and $5.5 billion in the 2010-11 fiscal period.
With files from The Canadian Press
