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Budget offers a $70-billion credit kickstart

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Cathy and Mauro Ceolin

Globe and Mail Update - Friday, January 23, 2009 at 2:51 EST

Cutting back amid a gloomier economic outlook and tight job market

Globe and Mail Update

OTTAWA, TORONTO — The federal government is extending its reach into Canada's financial system in a bid to support banks and borrowers, making almost $70-billion in new credit available and planning new powers such as the ability to buy stakes in financial institutions should they need capital injections.

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