BC forest sector sees limited relief from federal budget
BC industry spokesman Dick Bryan says the budget offers little stimulus to forest products amid high interest rates and U.S. market losses. He notes tax effects are negative for corporations and rental housing aims may barely boost demand. Union leaders and homeowners call for more rate relief with Ottawa protests planned.
MENTIONED IN THIS ARTICLE
Vancouver
British Columbia
Allan MacEachen
Dick Bryan
Council of Forest Industries
B.C
Bryan
Bank of Canada
U.S
MacEachen
Jack Munro
International Woodworkers’ of America
Munro
IWA
Hedzer Vanderkooi
Keep
Ottawa
Vanderkooi
Rate decline seemed timed
Vancouver Canadian Press report quotes Fraser Institute director Michael Walker saying the Bank of Canada rate cut before Thursday’s budget appears politically timed to shield the government from budget critics. He warns against political engineering of an independent central bank, recalling a historic Coyne-Diefenbaker clash.
MENTIONED IN THIS ARTICLE
Bob Flytton
Housing and Urban Development Association of Canada
Kamloops
Employers’ Council of
B.C
Canada
Dave Eriks
Vancouver
Arthur Andersen and Co
Eriks
Michael Walker
Fraser Institute
Walker
U.S
Ronald Reagan
Britain
Margaret Thatcher
Victoria
Hugh Curtis
Curtis
Bank of Canada
James Coyne
John Diefenbaker
Coyne
Economy Forecast Predicts Turbulence Then Stabilization
Ottawa based document from Thursday's budget foresees short term turbulence with higher unemployment and inflation driven wage gains until early 1983. Food prices rise quickly, cost of living stays high before a modest decline, followed by moderate real growth through 1987 as inflation eases and the Canadian dollar strengthens slightly.
MENTIONED IN THIS ARTICLE
Ottawa
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