Lethbridge Herald, The (Newspaper) - May 10, 1972, Lethbridge, Alberta
14 THE LETHBRIDGE HERALD Wednejdny, Moy 10, 1972 Budget designed to achieve long-range policy targets Ily iMOU.INS OTTAWA federal tax-anil-spcmliim lined 11 ii n d ;i y many in rrrem signed more lu range policy ;iim or bludgeon the economy inti short-term change of direclioi Those aims include a rcla unlike granted competing U.S. inn a'and M-ledive lax lic.ndils Ihal i i should do thin government no' a-1 harm in Iliu coming Irrlurul ul- died ii lorv "invc lo offsei lax bcne Isi oclion, Ilic main foaUirt'S of lira .have a c rhicvc liingcr-. H'-v last year. s-: budget are the tax sav- ii inps promised for secondary in-1 suivs. I Aparl from pension fl 11 s fry I h r processing nnrl i abotil in clwe of raw nuilmal.s. ni'ii.suro.i. some lo take i Ihc future and aJJ lo c 'laved impact, were in-i part by domestic pros-1 it mainly by concern i iTiialional trade Businessmen, pointing lo Can-aikt's btvn'y on L-X-porl .sales, have pressed for an easier lax rifle to make Canadian poods more competitive. Ftonojnisls li ivt ml ili it past lax and subsidy policies fa- vored production of raw materi- als over manufacturing while il is only Ihc latter lhat can gener- ale enough jobs to absorb the fastest-growing labor force in the industrial world. Internationally, the govern- ment is worried about trends to- wards Irade-roslrictiny policies in the United States and E rope. The U.S. is Canada's ma market, Europe its second. A series of tax-benefit me WOOtCO PHARMACY OPERATED BY JACK AUSTIN PHARMACY (AtBERTA) LTD. 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College Shopping Mail --2025 Mayor Magrath Drive Open Daily 9 a.m. to 6 p.m.; Thursday and Friday 9 a.m. to 9 p.m. sures introduced In the U.S. since last August gave Ameri- can manufacturers a decided cost edge over Canadian .coun- terparts in competition for sales in the U.S. and elsewhere. Further, with border-hopping relatively easy for manufactur- ers in North America, there were fears that foreign-owned factories might dose down in Canada and move south to take advantage of the easier tax re- gime. Finance Minister John Turner, while saying it Is hard to calculate precisely, estimates that the benefits he has prom- ised will put Canadian manufac- turers in an equal tax footing with those in the U.S. At the same time, secondary industries should be stimulated to expand operations and open up more jobs, be says. PEHMANBiVT I'EATUHE The tax savings promised ara designed, he says, as a perma- nent feature to alter the struc- ture of Canadian economic ac- tivity in favor of secondary in- a temporary mea- sure to pep up economic activ- ity generally. He acknowledges lhat there is no built-in guarantee that Irene- fitting companies will use the tax savings to expand produc- tion, cut costs and compete more vigorously in world trade. There is a danger that they may just pocket the savings as extra profit. But he expressed faith in pri- vate industry to use the benefits to C a n a d a 's grow, renovate, produce jobs and compete for exports." "Canadians expect that end I'll be he said. Forest firm hearing adjourned WINNIPEG (CP) Tlie com- missiorj of inquiry into the million Churchill forest indus- tries project at the Pas, Man. said Tuesday hearings have seen adjourned until mid-June. Commission counsel D'Arcy McCaffrey said the inquiry ex- pects to resume hearings about June 19. He said that in .he interim the commission will review evidence already given and take steps through the courts to possibly obUiin lesli- mony ol some witnesses in he U.S. and Europe later in the year. Mr. McCaffrey said the ques- tions of contempt against wit- icsses who have refused to ap- pear before the commission completes its hearings. The commission was set up nvestigate all aspects of t h e our-firm forestry development hat was placed in receivership ly the provincial government in January, 1971. The govern- ment, through the Manitoba De- velopment Fund and its suces- sor, the Manitoba Development Corporation, had poured more ban million in public funds into the project. Veterans disappointed at increase OTTAWA (CP) The Na- ional Council of Veterans Asso- iations expressed disappoint- ment Tuesday at the 3.6-per- ent increase in varans' pon- iions announced in Monday's edcral budget. H. C. Chiuldcrton, secretary the council, .sajfj in a tele- ram lo Veterans Affairs Minis- cr Arthur Lning that the 3.6- er-cenf increase, designed lo over rises in Ihc cost of living, ,ould be acceptable ally if Ihe ia.sic pension rale is first in- reascd to a from "Successive govenuncnls ave allowed the basic rate to rop steadily behind earnings in he unskilled-labor market, vlu'cli is the traditional basis for laynicnt of war pensions. "Canada 's war pensioners iow are in grave danger of hav- ig their pensions locked in at a igure aboul 30 por cent below they should he." report cady soon K0MONTON KT'i M- a n c c d Educntinn Minister aines Taster said he expects i have Ihc report of a public quiry into operations at Hwi cer College in about 10 days. DISPUTK SKTTLKD IIIJMDOLDT, Sask. (CP) A ago dispnle hclwwn SO Hum- tldl school division drivers id Ibcir employers was tot- ed hero.