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Canada heads into recession as GST looms in 1991
Linda Leatherdale reports on the made in Canada recession declared by the Conference Board of Canada. Bank of Canada Governor John Crow pursues zero inflation while rising rates and oil prices lift costs. Unemployment is forecast to rise to about 9-10 percent by year end, with GST replacing the manufacturers’ sales tax in 1991 and adding pressure on consumers and small businesses.
MENTIONED IN THIS ARTICLE
Brian Mulroney
Pove
Conference Board of Canada
Canada
Bank of Canada
John Crow
U.S
Federal Reserve Board
Alan Greenspan
Crow
John Bulloch
Bullock
Canadian Federation of Independent Business
Wilson
ScotiaBank
Warren Jestin
Jestin
Lloyd Atkinson
Bank of Montreal
Conference Board
Atkinson