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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 8, 1972, Lethbridge, Alberta Solurduy, April 3. I97J THE LETHBRIDGE HERAID 33 I'rivale, public investment needed Quebec has Jong way to go to meet Suture economic challenges X CJ O lly nOJUS MISKKW MONTUKAL Al- though the investment climate has improved in Quebec in the last few months, the province still has a lent; way to KO if it j is to meet the economic ciial- f lenge of the future. Montreal stockbroker (luy Desmarais says total capital investment in the private and public sectors have to reach nearly billion by 1076 if jobs are to be provided for the growing labor force. This means llml capital in- vest men! by both the private and government sectors have to be practically twice the amount recorded in 1971 investment totalled billion. Mr. Desmarais, youthful president of Geoffrion, Robert and Gclinas Ud., said that even with such a growth Quebec would continue to at- tract only 20 per cent of Can- ada's total capital investment. He based his figuring on the fact that new jobs must be created in Quebec each year during the next five years and that jobs must be found annually for at least currently unemployed to reduce (he province's un- employment rale to five per cetit. 1'ICTUKi: UHIGHTEH His calculations took into account ttie fact that it re- quires an investment of be- tween and to create a new job. The current improvement in the Quebec economy is gener- ally attributed to such factors a.s a resurgence of the North American economy, signs of new activity in the mining in- dustry and the pouring of fed- eral money inlo (he province. IScsides, somewhat more stable conditions on the politi- cal front are seen as helping to clear the foggy atmosphere in which the province has been struggling in recent years. Why has (he Quebec econ- omy beer, growing slowly in the last five years? Financial authorities arc in general agreement lhat the major problem facing Quebec is an insufficient inflow or capita] investment. And, ibey say. "you can't TOWN OF JT. ALBERT SECRETARY TREASURER The Town of Si. Albert Invites applications for the position of Secretary-Treasurer. Preference will be given to those with knowledge of municipal govern- ment and applicants should stale qualifications and experience. Salary is negotiable. Replies will be received in confidence by the under- signed until noon on April 28, 1972. D. B. O'CONNEll Chief Administrator Civic Centra Churchill Grandin St. Albert, Alberta attract investment when there is a lack of confidence irr tlm economic future of tlie prov- ince." Quebec entered a period of retarded economic growth in the mid-l9tiOs with the rise of the separatists and the terror- ist movement. INVKSTMKNT LACS H was during this period that capital began flowing freely out of the province, said financial executives, but this outflow appears (o havo dropped to a (rickle. Although it is difficult to 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 total, the rale lit un- employment began to in- crease, rising to a seasonally adjusted rate of 8.3 per cent in 1971 from 5.3 per cent in 1D67. N. S. Takacsy, vice-presi- dent of Greeushields Inc.. said he foresees economic expan- sion and job creation in Quebec at a more rapid pace this vcar than in 1971. "The critical area re- I business be added. "If we wish to build a more modern industrial structure, and provide more productive employment opportunities in Quebec we will require constructive labor union i attitudes, active industrial de- I velopmenl policies as v.ell as broadly-based confidence in onr economic future. "The principal task of our society at large and of our government in particular is to foster the generally improved climate which evolved last year in the aftermath of the terrorist outbreak of October, 1970. and which is the only guarantee of French Canada's fulfilment in a democratic set- ting." J BENEFITS MOST Quebec will benefit more than any other province from the federal government's cap- I ital spending programs during i the year. Topping the list of federal government capita] spending estimates for 1972-73 is S70.-1 million earmarked for the new Montreal international airport at Ste. Scholastique. Farmers to cut rapeseed acreage WINNIPEG fCPl A sor-l Declines of 36 per cent were vey by United Grain Growers indicated for Saskatchewan. indicates farmers intend la j per cent for Manitoba and 19 seed 28 per cent less acreage I per cent for Alberta, to rapeseed this year. At nines Creek, Alta., west- Tola) cost of the airport will j he SICKJ million. And more than :i quarter of tlu S1.G65 billion paid to j Quebec be in the form of equalization grants made by Ottawa to tlie seven poorer provinces. Mr. Dcsmarais said tlie task of doubling capital in- vestment between 1971 and 197IJ becomes more formida- Michel to attend parley NATAL fHNS) Michel Aerie No. 186-1, Fraternal Order j of Eagles, held its recent meet- ing at the li o 111 e of Paul J. Chain of Spnrwood. John Kundrak presided. j j With the East-West Kootenay I I zone convention of the Prater-] j mil Order of Eagles slated for j Creslon April 22 anil 23, it was j I decided the Michel Aerie will j be represented. It was expected to send at least one carload of members as delegates to this zone convention. Members enjoyed games of slniffleboard. hie considering lhat such in- vestment from the- private sector civeraged billion annually since ItKij. From the Quebec govern- ment sector, the average an- nual investment was about billion during the same pe- riod He figured Quebec, to meet (he challenge, will have to see an increase in capital invest- ment from the private sector to S7.5 billion in 1976 from billion in 1S17I. And investment from tba public or government sector will have to grow to bil- lion from SI.2 billion Inst year. Tliis would permit a rcduc- t i o n in unemployment by 20.000 a year- Bill it would still leave the province with a capital invest- ment of only 20 per cent of the Canadian total, a drop from 25 per cent in the last five years. SHARK OP GNT UP Quebec got billion of all new capital investment in 197L, total investment in Canada during the year stood at billion Based on population, Quebec's share of capita! in- vestment should be about 27 or 28 per cent of the country's total. A considerably higher rate of Investment therefore would bo re-quired to close the On the brighter side, Can- ada's gross national product is expp.vttt] to bo more than billion in 1972, with Quebec's share totalling shout S25.3 billion, up from bil- lion in tiie previous year This will mean an increase of about nine per cent in thp GXP. Quebec sank to n low figure in private capital investment in investment amounted to billion. The high was recorded in 1D71 with billion, L ricrnployriK'Ht dropped slightly in Quebec during the last month, to 223.rxK> from 233.WO of a total labor forco of 2.3 million. This was a drop to 3.3 per cent from 10 per unadjusted. NOW PAYING MORE FOR ALL TYPES OF SCRAP METAL Form Industrial Anything Made of Iron! COPPER BRASS RADIATORS BATTERIES CAST IRON Truck Carlondt Truck Scalei Mognel Crone Sc-rvfcd National Salvage Company LIMITED NEW LOCATION 206 Street North Phone 328-1721 "Scrap Is Our Busincn" The survey was conducted In late March among elevator agents o! the prairie-wide co- operative in tlie rapeseed areas of the northern prairies. It in- dicates a seeding of acres compared with acres last year. Main reasons given for tlie decline were better opportuni- ties for wheat and barley be- cause of low stocks. Possible damage by Bertha army worms also cited in some cases. mi Canada's largest rapeseed point, acreage is forecast to drop to 57.600 from last year's Kelvington, Sask., was expected to decline to 20.000 acres from and Grand- view. Man., to from 22.000. Breakdown by provinces, with last year's figures in brackets: Alberta (2.- Saskatchewan 000 Manitoba 000 unday Morning Where do you find an oilfield "test hole" right inside Calgary? all day distance 500 to anywhere in Alberta? liifh Sunday-50 ODD There's z real lesl hole "inside Sail" because Sait takes a real approach to "learning by doing." In addition to field work, Sail backs up its qualified faculty of instructors with on-campus facilities that 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 that you select the right program. For further information, DIAL CAREERS: 284-8413. SOUTHERN ALBERTA INSTITUTE OF TECHNOLOGY April f4 9 a.m.- 10p.m. AprillS 12noon-6p.m, Phone anytime this Sunday, and every Sunday all year around. Because Long Distance is just half-a- buck or less lor three great minutes. You can dial anyone in Alberta, from anywhere in Alberla, from midnight Saturday to 6 a.m. Monday. And Ihe savings are on us. But you must use Direct Distance Dialing. Or. if DDD isn't in your area, you call station- to-slation at Ihe same low rate. do not apply to parson-lo-pefson. collect, third parly billing, time and charge, pay phono or credit card calll. Trans-Canada Telephone Syslem ALBERTA GOVERNMENT TELEPHONES ;