Canada's Liberal Party leader Stephane Dion (C), New Democratic Party leader Jack Layton (L) and Bloc Quebecois leader Gilles Duceppe hold a news conference in Ottawa Dec. 1, 2008. Canada's three opposition parties, namely Liberal Party, New Democratic Party and Bloc Quebecois signed an agreement on Monday to form an unprecedented coalition government to oust the minority Conservative government in a coming confidence vote. (Xinhua Photo) Photo Gallery>>>

    OTTAWA, Dec. 1 (Xinhua) -- Canada's opposition parties are finalizing their plans on a coalition government as they prepare to bring down the newly-elected ruling Conservatives, after a political crisis sparked by the government's policy on the economy.

    The biggest opposition party, the Liberal Party, and the leftist New Democratic Party (NDP), have agreed on a detailed plan to form the government, supported by the Bloc Quebecois, the third biggest party in the Parliament, officials and media reports said Monday.

Canada's Liberal Party leader Stephane Dion (C) speaks while New Democratic Party leader Jack Layton (L) and Bloc Quebecois leader Gilles Duceppe listen during a news conference in Ottawa Dec. 1, 2008. (Xinhua Photo) Photo Gallery>>>

    Under the proposed deal, The Liberals would take 18 cabinet seats and the NDP would get six under a Liberal prime minister. The positions of finance minister, treasury board president and deputy prime minister would be also held by Liberals. The deal would reportedly last 30 months.

    A high-profile, four-person economic council would guide the coalition government on finance matters, to insure that economy is well managed at a time of global economic difficulty. One is from NDP and three from the Liberal Party, with the most notable being former Liberal Finance Minister and Prime Minister Paul Martin.

    The coalition government would introduce an economic stimulus package worth 30 billion Canadian dollars (about 24 billion U.S. dollars) and roll back 50 billion Canadian dollars in planned corporate tax cuts as a measure to counter the current economic crisis. The oppositions have accused the government of being negligent to workers' difficulties at a time of global economic crisis.

    The current political storm erupted last week after Finance Minister Jim Flaherty unveiled his annual economic update. The oppositions denounced the update as containing no major economic stimulus package to fight off the current global crisis. But they were particularly angered by a plan to slash public funding for political parties, which could see them go to bankruptcy.

    The three opposition parties have tabled a non-confidence motion on Stephen Harper's government, which has been scheduled to go to vote in the House of Commons next Monday. If the vote happens, the government will be toppled and the governor general may ask the oppositions to form a coalition.

    However, Prime Minister Stephen Harper could still block coalition efforts by proroguing Parliament. That would mean his government could not be defeated in the current session of the House of Commons.

    The Conservatives have slammed the opposition's moves as a back-door power grab while trying to stave off the crisis by backing away from some of its plans. Finance Minister Jim Flaherty promised to deliver the budget on Jan. 27 about a month before planned. The government has also said it would shelve its plan to eliminate political party subsidies.

    The Conservatives, first elected in a minority government in 2006, won a strengthened minority government in the federal election in October. It needs the support of at least one opposition to survive. (1 U.S. dollar = 1.25 Canadian dollar)