TORONTO - The $6.8 billion in financial assistance the Detroit Three automakers have called on Ottawa and the Ontario government to provide is "capable of being dealt with," Finance Minister Jim Flaherty said Monday.

The Canadian divisions of GM, Chrysler and Ford presented their request to both levels of government Friday, and Flaherty said meetings on an auto bailout plan are being held at the "federal level."

"All participants in the industry are going to need to come to the table. To invest taxpayers' money will require certain terms and conditions to be applied," Flaherty said Monday at a groundbreaking ceremony for a Toronto environmental centre.

"It's capable of being dealt with -- I think more discussion is going to have to happen."

While only Ford Canada officially released its dollar figures on Friday, The Canadian Press learned that Chrysler Canada asked for $1.6 billion in emergency loans, while General Motors is seeking $2.4 billion in repayable loans.

GM is also seeking $800 million immediately to get through their liquidly problems.

Ford Canada said it was seeking a $2-billion stand-by credit line to be used only if the economic crisis worsens but isn't asking for any money up front.

Despite Parliament being suspended until late January, Industry Minister Tony Clement has said there are funds in the last budget to help automakers.

The automakers have been pushed to the brink by the ongoing global economic crisis and credit crunch. Despite a dismal jobs report out on Friday, Flaherty insisted his Conservative government has been, and is, stimulating the Canadian economy.

"There are three new tax provisions that come into force in less than 30 days in this country, we have doubled infrastructure spending in this country," Flaherty.

"There's lots of stimulus here."

Another $37 billion in debt reduction over the past three years puts Canada's economy in better shape than any other country in the world, and the country will be able to meet its stimulus promises to its G20 partners, Flaherty said.

"It puts us in terrific position, if necessary, to take further stimulus activities."

Reconvening Parliament early to pass a stimulus-laden federal budget is not the answer, Flaherty suggested.

"People ought not to expect that there is some magic solution," he said.

Touting the government's $33-billion "Building Canada" plan, Flaherty pledged Canadians would see more construction across Canada in coming months and noted $6.2 billion is committed to infrastructure in Ontario, hard-hit by manufacturing job losses.

Toronto Mayor David Miller, who also attended the groundbreaking, used the occasion to directly appeal to Flaherty to invest in his city's $6-billion transit improvement plan.

"We're ready to go, and we need partners who'll act, and we look forward to the Parliament acting," Miller said, noting all the federal parties seem to be saying the same thing when it comes to the need for investing in infrastructure.

However, the money needs to flow more quickly than it does under the current application-based funding system, Miller said.

"We need permanent sustained funding like the gas-tax program that allows us to act now," he said.

"There's incredible urgency."