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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 8, 1972, Lethbridge, Alberta Trivalc. Solurduy, April 3. 1972 THl LITHBRIDGE HERA1D 33 lie, investment needed Quebec has long way to go to meet Suture economic challenges lly 11OIIIS MISKKvV MON'THKAI, (Cl') Al- llie investment climate lias improved in Quebec in the last mouths, the province Milt has n Jong way lo go if il is to meet (he economic chal- lenge of tlie futme. Montreal stockbroker Cuy Desmarais says total capital inveslmcnl in the private and public sectors have to rcacli nearly billion by 197ii if jobs are lo lie provided for llm growing labor force. This means llml capital in- vcstmcnt by both tbe private and government sectors wilt have lo be practically twice the amount, recorded in 1071 when investment totalled billion. Mr. yon'.hful president of Geoffrion, Robert and Uelinas Ltd., said that even with such a Quebec would continue lo at- tr.iel only 20 per ccnl [if Can- ada's total capital investment. lie based his on Hie fact that jobs must be created in Quebec each year during the ncxl five years and that johs must be found annually for at least currently unemployed to reduce the province's uu- cmplDymcnl rale to five per co til j'lCTL-ni; Ills cnlcuhilions Look into account the fact that it re- quires an investment of be- tween and to create a new job, The current improvement in Ihc Quebec economy is gener- ally attributed to such factors as a nwtirgenec of the Is'otih American economy, signs of new activity in the mining in- dustry ami Ihc pouring of fed- money into (he province, Ucsidcs, somewhat more stable conditions on the politi- cal front are seen as helping lo clear the foggy atmosphere, in which the province has been struggling in recent years. Why has the Quebec econ- omy been growing slowly in the last five years? Financial authorities arc in general agreement lhat HIP major problem facing Quebec is an insufficient inflow or capita] investment. And, they say. "you can't attract investment when there is a Jack of confidence in HIP economic future of Die prov- ince." Quebec entered a period of retarded economic growth in the mid-l9GQs with the rise of the separatists and the terror- ist movement. INVKSTMKNT LACS II was this period that capital began flowing freely out of the province, said financial but this outflow appears (o havo dropped to a trickle. Although it is difficult lo es- timate the amount of money that lelt Quebec in the last five years, the volume of capi- tal investment showed a marked decline. And as capital investment declined in relation to the Ca- nadian (lie i-ate of tin- employment began to in- crease, rising lo a seasonally adjusted rate of 8.3 per cent in 1971 from 5.3 per cent in 1DG7, N. S. Takacsy, vice-presi- dent o[ Grceu shields Inc., said he foresees economic expan- sion and job creation in Quebec at a more rapid pace this year than in 1971. "The critical area re- nii'Mti business inveM he added. "If we wish to build a more modern im'uslrial structure, and provide more productive employment opportunities in Quebec wo require constructive labor union attitudes, active industrial de- velopment policies as v.ell ns broadly-based confidence in om economic future. "The principal task of our society at large and of our government in particular is lo foster the generally improved climate which evolved Insi year in the aflermrdh of the lerrorisl outbreak of October, I 1970, and which is only guarantee of French Canada's fulfilment in a democratic sel- ling." JJKXKFITS MOST Quebec will benefit mure than any other province from the federal government's cap- ital spending programs during the year. Topping the list of federal government capital spending estimates for 1972-73 is million earmarked for the; new Montreal international airport at Sle. Scholastique. TOWN OF JT. ALBERT SECRETARY TREASURER The Town of Si. Albert Invites opplicolions for trie position of Secretary-Treasurer. Preference will be given lo Ihose wilh knowledge of municipal govern- ment and applicants should sfale qualificolions and experience. Salary is negotiable. Replies will be received in confidence by Ihc under- signed unlil noon on April 28, 1972. D. B. O'CONNELL Chief Administrator Civic Centra Churchill Grandin St, Albert, Alberla Farmers to cut 'rapeseed acreage Tolal cast of HIP airport will be million. And more llinn ;i quarter of (lie S1.GC5 hillion paid lo Quebec ho in the form of cqualiznlion made by OLUuv.i to Urn Fpven poorer provinces. Mr. Dcjsmarais said the task of doubling capital in- vcstnicnl 1371 and 1971) becomes move fonnida- MuJiel Eagles to attend B.C. parley NATAL rjJXSj MjcbeJ Aerie No. 1KG-I, Kralernal Order j of Eagles, held, its recent mcct- I ing at the ii o m e of Paul J. Chain of Spanvood. .John Kunclrak presided. i With the TCast-VYesl Kootenay I zone conversion of the Kraler- j mil Order of Kaglos slated for Creslon April 22 and 23, il was j decided the Michel Aerie will i be represented. It was expected to send aL least one carload of members as delegates to this zone convention. Members enjoyed games ol i slnijfleboard. hlc considering Ihitt such in- vestment from Uie pnvnte sector leveraged Sli.j billion annually since 10rij From the Quebec govern- ment sector, the average an- nual investment was about billion during the same pe- riod Ho figured Quebec, to Ihe challenge, will havo lo seo an increase in capital invest- ment from the private sector to S7.5 billion in !97fi from billion in And investment from tba public or sector will have lo grow to S2.5 bil- lion from SI.2 billion Insl year. This would permit a rcduc- lion in unemployment by 20.000 a year. liul it still leave Ihe province u'illi a capital invest- ment of only 20 per cent of the Canadian total, a drop from 23 per cent in the lasl five years. SHARK OF GNT UP Quebec Rot billion of all new capital investment in 1071, total investment in Canada during the year stood at billion Based on population, Quebec's share of capila! in- vestment should be about 27 or 28 per cent of the country's total. A considerably higher rate of investment Ihereforc bo to close tho On Ihe brighter side, Can- ada's national product is to bo more than SIM billion in l'J72. CJucbt't'.1- share lotalline about billion, up from S2.3.2 bil- lion in tfie previous year This mean an increaw of about nine per cent in thp Quebec sank to n low figure in private capital investment in wlicn investment amounttHl to 2 billion. The hiijli recorded in 1D71 with f'J.9 hillion. LruTiipbymerit dropped slightly in CJucliec during the last, month, to 22.V.M from 233.fXK) o( a total labor forco of 2.3 million. This a drop lo 'J 3 pur cent from 10 per unadjusted. NOW PAYING MORE FOR ALL TYPES OF SCRAP METAL Farm Industrial Anythin3 Made of Iran! COPPER BRASS RADIATORS BATTERIES CAST IRON Truck Lcadi Carlondi Truck 5calei Magnel Crane Sc-rvrcd National Salvage Company LIMITED NEW LOCATION 206 33rd Street North Phone 328-1721 "Scrap 11 Our Bujincu" WINNIPEG fCPl A sur- vey by United Grain Growers indicates [armors intern! in seed 28 per ccnl less acreage lo rapcseed this year. The survey was concluded In late March amonp elevator agents o[ the co- operative in Ihe rape-seed areas of the northern prairies. U ir- rficatos a seeding of a.M.noo acres compared with acres lasl year. Main reasons given for Ihe decline were belter opporlimi- lies for wheat and barley lie- cause of low stocks. Possible damage by Berllin army vrarms also was cited in som" cases. 1 Declines of 36 per ccnl were indicated for Saskatchewan. per cent lor JTanitoba and 19 per cent for Alberta. At Hines Creek, Alia wesl- nrn Canada's largest rnpeseed point, acreage is forecast to drop lo 57.COO from last year's M.OOO. Kclvinglon, Sask., was expected to decline to 20.000 i acres from and Grand- view. Man., to from 211.000. Breakdown by provinces, with lasl year's figures in brackets: Alberta (2.- Saskatchewan 000 Maniloha 000 (025.0W. Where do you find an oilfield "test hole" right inside Calgary? "Inside Salt." TL Sunday Morniiii J iSleiepin. ggSOatuse all day J to anywhere in i Iwifh Sunday-50 ODD There's a real lesl hole "inside Sail" because Soil takes a real approach to "learning by doing." In addition to field work, Sail backs up its qualified faculty o( instructors with on-campus facilities lhat simulate modern career conditions. Not only in petroleum technology, but in such varied fields as sculpture, broadcasting, journalism, business, medical science, catering and in engineering technologies from aeronautical to land surveying. Are you career ready? A Sait career aptitude interview will help you make certain thai you select Ihe right program. For further information, DIAL CAREERS: 2M-8413. SOUTHERN ALBERTA INSTITUTE OF TECHNOLOGY i.m.-np.m. AprilK Unoon-Spm. Phone anytime (his Sunday, and every Sunday all year around. Because Long Distance is just half-a- buck or less lor three greal minutes. You can dial anyone in Alberta, from anywhere in Alberta, Irom midnight Saturday lo 6 a.m. Monday. And the savings are on us. But you must use Direct Distance Dialing. Or. if DDD isn't in your area, you call slation- lo-station at Ihe same low rato, rates do not apply to parson-to-pirspn. collect, third parly billing, time end charge, pay phono or cretin card callt. Trans-Canada Teteptions ALBERTA GOVERNMENT TELEPHONES ;