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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 2, 1973, Lethbridge, Alberta 37 THE lETHPFtlPGE HERAID V.VcWsdoy, May 1973------------------------------------- Goift won't have trouble on corporate tax issue liy YHT'.m MAC'KIK iit'rtild Bureau OTTAWA The Liberal jni- should have ro trouble thy corpo- rate rax iiurdle ;ii''.or the Easter ivi'Lv.-; but i1, could fail from i1 comes up against is '.he "'.''lion of Now e :n o_ r :i t i c Party House Loader Knowlcs. He should know because it is the support o? 'he NDP party that i; the Trudeau govern- in offke. Ho Liberal? in an interview wlrlle they are v.LiU'hi'.i.a their foot- work to avoir! defeat on the cor- porate thsy may trip ever the of rising food prices. The N'DP is clissatisfi3d wiih the action taken by the Liberal government in setting iU "FCDC! Prices Review boa.ra it failed to give the- board the "legislative teeth i' nsccls to deal adequately with tho problem." Tiie has described the made last week a'ltl Corporate Af- fairs Kerb Gray, es- :he as a rif-us'y inadcquaic" response to tl-o riroblom cf rising food -rices. V.r. Xno-.vlcs and Terry XDP niembei- for Lake- shore, the party's spokesman on prices, found the announcement V.'hen the special commons committee on Trends in Food Prices made its report to the house last month it contained a recommendation for the forma- tion of an independent Food Prices Review Board. But it fell short cf recommending that tthe government provide the board with power to act, or to act itself to roll back prices. The NDP members on the committee supported the rec- ommendation of the committee which said the board should be "equipped with such powers as are necessary to review prices.'1 It also said the board in its reports to the cabinet could make recommendations concerning appropriate action to be taken. The Progressive Conservative party disassociated itself from the committee's report recom- i mending the board. The Con- i servatives said the committee I should deal with the whole i problem of inflation of which i food prices are only a part. The Tories said that in rec- I ommending a "toothless, awk- ward and obscure food prices I review board" as it main pro- I posal, the Liberals and NDP were "not facing the facts of life" in Canada today. The P.C. m I 9 I 3 314 3rd Street S. Phone 327-3024 members on the committee said such a board would be "unrea- listic and administratively cum- bersome and expensive." They warned that it was "unreal and unfair" to deal with food prices alone when the basic problem facing Canada is ths high cost of government and rising prices in all sectors of the economy. As the official opposition the P.C.'s are calling for an abrupt reversal of Finance Minister John Turner's economic, mone- tary and fiscal policies by the institution of a more ex- pansionist program. They want a cut back on sales and other taxes especially at the lower in- come levels and a general im- mediate reduction of govern- mental revenue. The Conservatives would im- pose an immediate, but tem- porary 90-day freeze on all in- come, including dividends, fees, wages, salaries and commis- sions, and on all costs and on all prices except "food at the farm or raw, unpre- cessed fresh foods. They would place a moratorium not only on consumer food prices and wage raises, but would "freeze" all other costs and in-puts in the economy, all of which add to the total inflationary cycle. This means that when the Liberals face the house of corn- j mons after the Easter recess they cculd find not only.. the Conservatives but .also the NDP i ranged against them over the i "review board" policy of coping I with food prices. Mr. Knowlss said the NDP is disappointed because the government has not come through with any machin- ery" or any kind of guarantees that can put the board's recom- mendations into effect. Blame high beef costs on yours Crunched A small foreign car is virtually crushed after it was struck by an overturned truck hauling of cement at the exit to Montreal Louis-Hippolyte tunnel. The driver es- caped unhurt. Americans cautioned on gasoline ORIGINAL fs'AME The University of Toronto's original name was King's Col- lege. WASHINGTON (AP) Inte- Secretary Rogers C. B. nor Morton urged Americans today to start conserving gasoline if they want to avoid shortages this summer. Morton did not directly men- tion the possibility of gasoline rationing, but warned shortages could affect "the freedom of RCHANTS TRUST INTRODUCING LZ3 st to 7th NOT ONLY SHOULD WE DEVOTE EVERY EFFORT TO GIVE OUR CHLDREN THE SAFEST POSSIBLE WORLD TO LIVE IN WE SHOULD ALSO GIVE THEM A GOOD START IN LIFE BY ENCOURAGING THE SAVING HABIT NOW a SAVINGS ACCOUNT at MERCHANTS TRUST rest on the minimum monthly PART i 1 -OPEN A SAVINGS ACCOUNT WITH A DEPOSIT OF OR MORE and -WE WILL DEPOSIT TO YOUR NEW SAVINGS ACCOUNT MERCHANTS TRUST CO. LTD. 309 7th ST. S. PHONE 328-5548 cli'iice of our citizens.'1 In a statement issued forom his office, Morton urged that Americans save gasoline by driving their cars only when necessary, planning vacations and camping trips closer to home, slowing down on high- ways and limiting the use of auto conditioners and other powered equipment. In a separate statement pre- pared for presentation to, the Ssnate interior committee, Mor- ton said: 1 "The margin between ex- periencing energy shortages and not experiencing energy shortages is very small. "For this summer, only a one-or two-per-cent reduction in gasoline consumption could make a difference. "Tha driving habits of the American people can determine whether we get through the summer without a problem or whether we have to consider far more serious remedial meas- ures than have so far been con- sidered." OTTAWA (CP) Next time you're looking for someone to blame for the high cost of beef, try yourself. That's one of the messages in a recent 178-page study of the meat industry done for the Ag- ricultural Economics Research Council. The study, by Prof. Yorgason of Toronto's York University, says the most im- portant factors affecting beef prices arc consumer demand and increased consumer af- fluence. It also criticizes the govern- ment for what it calls in- adequate efforts to reduce meat-price increases and says government tariff policy may make prices higher. Businesses get off lightly. The study says chain-store profits have been excessive, but not mainly because of the meat, which produces lower profits than other departments. For the future, the study pre- dicts increasing upward pres- sure on meat prices. But it also says the prices paid to the producer will hold steady as he increases his effi- ciency. MEAT IS IMPORTANT The study notes the meat in- dustry makes up about 11 per cent of the economy, measured in its direct and indirect effects on other industry. "It is estimated that the live- stock-red meat industry had a contribution of billion of economic activity in 1971, at a time when the gross national product of Canada at market prices was billion." The study examines the roles of consumer, retailer, whole- saler-processor and producer, beginning with the consumer: ''The consumer is the domi- nating force in the market. By making his tastes and prefer- ences known, and- buttressing them with his income, he estab- lishes a relation between the price of meat and the quantity of it he will purchase." The study notes a sharp in- crease in beef consumption per capita: 55.4-pounds a year in 1920-24, 87.4 pounds in 1971, and probably more than 112 pounds by 1980. Consumption of all red meat rose from 116.9 pounds each in 1920-24 to 161 pounds in 1971. Pork and lamb had uneven con- sumption patterns, but demand for them was expected to in- crease at a more moderate rate. MAKES DIFFERENCE Statistics indicate that the price of meat makes a differ- ence in demand, but increases in beef prices don't bother beef buyers as much as pork creases bother pork buyers. A one-per-cent increase In beef prices produces a decline of 77-100 of one per cent in beef consumption, said the study. The same increase for pork, however, lowered pork con- sumption by 1.69 per cent. The study uses 1969 figures to show that the more income a family has, the more meat it consumes each week: a person for families with annual incomes of S3.000 to and 59.65 a person for families in the to range. "The breakdown of average food expenditures by type of meat and by cut reveals sub- stantial differentils in con- sumer expenditure by area. "Expenditure on fresh beef per family ranged from a low in Edmonton to a high in Mon- treal, those families in Montreal preferring the more expensive loin and round cuts." Spending on pork varied to a lesser extent, with Vancouver lowest and St. John's, Nfld., highest. VEAL DIFFERS ''Veal consumption Is markedly different, being very high in Toronto, Montreal and Winnipeg relative to other cen- tres. "This is attributable in large part to the different ethnic ori- gin of major segments of their population from that of the bal- ance of Canada. The Price is Right on These Ladies' Sandals Fashionable weave uppers with strong adjustable back strap and a lew covered heel. White. Clog Sandals a Great Little Gift for Mom! Mom can walk proud in these clogs with white vinyl uppers and padded insole and light cork unit soles. Open Daily 9 a.m. to 6 p.m. Thursday and Fiiday 9 a.m. to 9 p.m. We the right to limit COLLEGE SHOPPING MALL 7025 Mayor Magrath Drive DEPARTMENT STORES A DIVISION OF THE WOOLWORTH CO. J If KOIJ JAKE AWAY OUR LOW PRICES REGULAR DEPARTMENT STORE THE CANADIAN MENTAL HEALTH ASSOCIATION COULD START THE FOLLOWING WITH YOUR CONTRIBUTION 0 care programs to help fami- lies of patients to understand and to assist in the patients recovery. School programs to help teach- ers identify early signs of man- to I illness. Worry clinics to help husbands and wives and families cope with the problems of mental illness. Full-time rehabilitation centre in- stead of our present day-and-a- half-a-week program. Craft ptdyi-am with better facili- ties, better projects, better and more diversified equipment. A massive program to keep the mentally healthy, mentally heal- thy. ;