Canada's Harper May Win Re-Election With Minority (Update1)

Canada's Harper May Win Re-Election With Minority (Update1)

By Theophilos Argitis

Oct. 14 (Bloomberg) -- Canadian Prime Minister Stephen Harper was headed for re-election with a second straight minority government, according to projections by CTV based on preliminary results.

Harper's Conservative Party is leading in 105 districts, or 50 short of a parliamentary majority in Canada's 308-seat legislature, according to early results on Elections Canada's Web site. The Liberal Party leads in 68 districts, followed by the Bloc Quebecois with 31 and the New Democratic Party with 26. Harper had 127 seats when elections were called on Sept. 7.

The prime minister's first task if elected will be to shore up Canada's banks amid the global financial crisis and manage a slowdown in tax revenue that threatens to end a record streak of 11 consecutive budget surpluses.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net.

Last Updated: October 14, 2008 22:13 EDT

(SOURCE: http://www.bloomberg.com)