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Newspaper
Hamiota Echo
Location
Hamiota, Manitoba, Canada
Date
Jul 08, 1987
Page
13
Finance Minister Michael Wilson unveils a two stage plan to simplify income tax in 1988 then reform sales tax later after provincial and public consultation. The approach lowers individual and small business rates while widening the base and promises eight of ten households will pay less tax and 850000 low income Canadians will not pay tax.
Manitoba Beef Commission chairman Rudy Usick announced cuts effective July 1 1987 to producer premium rates. Slaughter cattle premiums drop 18.75 percent and calves and yearlings 25 percent, building a total premium reduction since July 1986. The revised formula also lowers various support levels amid lower grain, interest, land, pasture and hay values.
Finance Minister Eugene Kosytra announced Manitoba negotiated a 30 billion yen bond sale in Japan valued at about 280 million Canadian. Ten year bonds carry 4.8 percent coupon, sold at 99.50. Proceeds fund general government programs. Japanese syndicate led by Nikko Securities with Nomura Daiwa Yamaichi and New Japan involved.
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