A microbrewery in British Columbia is toasting the current economic downturn by launching a special brand of recession-style beer.

Howe Sound Brewery has named its most bitter-tasting brew Bailout Bitter in honour of the government bailouts of the financial sector that have taken place in an attempt to mitigate the global financial crisis.

Calling it "bitter ale for bitter times," the brewery said the new beer will cost less than its other brands.

A pint of Bailout Bitter will sell for $5.50, or about $1 less per glass than other brews, at the company's restaurant and pub, located in Squamish, B.C., north of Vancouver.

The company is also planning to sell one-litre bottles of the new ale in the coming weeks, at a price less than the $7.10 per one-litre bottle it charges for some of its current brands. The price per bottle hasn't been set yet as the company waits for bottling approval from provincial government.

"We are trying to inject a little bit of humour into this dire economic situation, while still responding in a serious way to these tough times," the brewery's co-owner, Leslie Fenn, said of the new brand.

Fenn said because the brewery is small, it can produce a timely new brand faster than its larger competitors.

The idea was hatched about two months ago, when impacts of the global financial crisis began, he said.

The Howe Sound Brewery, which started in 1996, produces about 10,000 litres of beer per week. The brewery makes 12 different types of beer, which are bottled by hand and sold primarily at liquor stores in B.C. and Alberta.