Rae presses Ottawa to join the U.S. in helping ailing auto sector

TORONTO — Canada must press Washington to help the sinking auto industry while extracting promises from the sector that it will become sustainable and competitive, federal Liberal leadership hopeful Bob Rae said Friday.

In a speech to a Bay Street luncheon crowd that welcomed him with a standing ovation, Rae called it critical to the country's well-being to get vital parts of the economy growing again.

"The federal government has to get to Detroit and Washington to discuss major assistance packages that are essential to this completely integrated industry," Rae said.

"We must be part of any solution or we risk losing much more than we already have."

He rejected the notion that help for ailing industries amounts to throwing good money after bad.

In practical terms, he said, helping factories and companies get back on their feet - provided conditions are attached - pays huge dividends.