Fresh off his election victory, Prime Minister Stephen Harper announced a six-point economic plan Wednesday that includes a first ministers conference and the reconvening of Parliament this fall.

Harper, speaking in Calgary, said the government will take "whatever appropriate steps are necessary" to ensure the stability of Canada's financial system.

"We're looking constantly at what needs to be done to ensure the availability of credit for Canadians, Canadian businesses, families and individuals," Harper said.

"At the same time we're also looking to make sure our banks are not put at a competitive disadvantage."

The Tories' six-point plan includes the following actions:

  • The minister of finance and the Bank of Canada will constantly monitor financial markets and the impact of developments in other countries.
  • The global financial crisis will be discussed at the Canada-European Union Summit, which Harper will attend on Friday.
  • Parliament will be summoned to meet this fall and the minister of finance will table an economic and fiscal update before the end of November.
  • Canada will be represented at the meeting of G-20 finance ministers scheduled for early November in Brazil. Canada has also called for a second meeting of G-7 finance ministers.
  • Government spending will be focused and kept under control as the strategic review of departmental spending -- now in the second year of a four year review - continues.
  • Harper will hold a first ministers meeting on the economy to discuss with premiers and territorial leaders a joint approach to the global financial crisis.

"These are challenging times, Canadians are worried right now and those worries are understandable," Harper said Wednesday.

"But I want to assure Canadians that together we will weather the storm and we will position our economy to emerge stronger than ever."

The Conservatives won a minority government in Tuesday's election, taking 143 seats in Parliament -- up from 124 in the last election.

During the campaign the Liberals, who claimed only 76 seats, promised a similar five-point plan to deal with the economic situation.

With files from The Canadian Press