The Conservatives launched a pre-emptive strike on their political rivals Monday, saying that talk of a fall election could risk derailing the nation's fledgling economic recovery. But Liberal Leader Michael Ignatieff called the remark a "load of nonsense."

On the cusp of Parliament's resumption, Transport Minister John Baird said that economic stimulus spending could be threatened if Canadians are forced back to the polls by a non-confidence vote in the coming weeks.

Baird added that a fall election would be an irresponsible course of action that would also delay government spending on important infrastructure projects.

The comments come as new data shows that the economy is showing growth for the first time in almost a year.

But Ignatieff said Baird's contention that an election would threaten the economy is a "load of nonsense," after his party's caucus meeting in Sudbury, Ont.

Ignatieff attacked the government on its economic track record and said that the Tories have done little to rebuild the economy.

"If things are getting better, it's not because of this government, it's because the people of Canada have put their shoulder to the wheel," Ignatieff said.

Still, Ignatieff stopped short of announcing firm plans to bring down the Tories, saying the decision would be made with his caucus.

"We're going to have a good discussion, and we'll make a decision when it suits us," he said.

Recent polling has suggested that the Grits and the Tories are locked in a dead heat, making an election a risky proposition for Ignatieff.

However, the leader dismissed those concerns.

"This is a question of principle, not a question of polls," he said, adding that his party has kept "this government on life-support for 10 months."

"We've put the country first."

When Parliament ended in June, Harper and Ignatieff locked horns over opposition calls to reform the Employment Insurance program.

But the two leaders worked out a compromise and agreed to a series of meetings on the issue over the summer months.

But Ignatieff said the Conservatives have balked at his efforts to build bridges on EI reform.

"Those meetings have turned into a bit of a charade," Ignatieff said.

CTV's Roger Smith, reporting from Sudbury, said the Liberal party is currently split between doves and hawks, with Ignatieff taking charge of the latter group and pushing for an election.

However, Smith said others in the party are asking for caution.

"The doves are arguing, 'Look, it's only been a year since the last election (and) the economy is staring to turn around a little bit,'" Smith said.

Last spring, the Liberals hammered the Tories on the state of the economy. However, signs of economic recovery could force the Liberal election machine to switch gears.

"This is the kind of division there is in the party, but when you come right down to it, Mr. Ignatieff is the leader, and he'll make that final call," said Smith.