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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 13, 1974, Lethbridge, Alberta Wednesday, November 13, LETHBRIDot HtRALu 5 U.S. moving into recession WASHINGTON (AP) President Ford's chief spokesman said Tuesday "we are moving into a recession." White House Press Secretary Ron Nessen, ending weeks of semantic debate, said a preview of November's economic statistics show a continued erosion in the economy and that when they are announced and analysed "it probably would appear this month we are moving into a "We are not now in a recession but new figures will prob- ably indicate we are moving into a he added. Nessen said the White House acknowledgement does not necessarily mean there will be changes in President Ford's economic program. But he left open the possibility that the president may accept an alternative to his proposed five per cent income tax surtax on middle and high income in- dividuals and on corporations. "He's not wedded to the five per cent (surtax) but he is wedded to the principle that there must be some way to raise the money" to finance federal efforts to aid the unemployed, Nessen said. Nessen said the economic package Ford sent Congress last month is a balanced program intended to deal both with inflation and with a softening of the economy which led to Tuesday's acceptance of the recession label. Nessen, who said he had talked to Treasury Secretary William Simon and such other presidential economic ad-. visers, ticked off the indications of further economic erosion. He mentioned lagging industrial production, increasing un- employment with layoffs in auto and other industries, lag- ging auto sales and "more subtle indications" that demand for raw material is falling off. As for Ford's goal of a balanced budget in fiscal 1976, Nessen indicated hope for such an accomplishment was fading. "His goal remains a balanced Nessen said. But he added that the lagging economy might cut government revenue and that Congress must co-operate to hold down spending. Operation restores hope Edgar Reiprich, 18, who had spinal surgery in Leningrad, Russia, last January to relieve paralysis in his legs, plays pool with friends in his Scarborough, Ont. home. New L.I.P. plan devised OTTAWA (CP) Stung by allegations of political patron- age in the past, the govern- ment has devised a formula that they say will ensure that Local Initiatives Programs (L.I.P.) grants to the 264 federal ridings are more closely related to un- employment. In the 1974-75 program, which will cost million, each riding gets an allocation of at least with another per person above a base jobless rate of four per cent. Ask About The NEW INVISIBLE Multicocal Lens (MULTILUX) The formula, which uses Statistics Canada and Canada Manpower jobless figures, is a matter of pride with L.I.P. officials. But while opposition critics have moderated their criticism this year, a bitter taste lingers. The progressive Con- servatives, in particular, criticized the government when figures showed that Liberal ridings won twice as much money for L.I.P. grants projects as their own. In the 1973-74 program, for example, when there were 109 Liberals and 106 Conser- vatives in the Commons, YAMAHA ORGANS 1 New and Used I COLLEGE MALL I Phone 328-3694 million went to Liberal and 7 million to Conservative ridings. Quebec, Newfoundland and New Brunswick won dis- proportionate amounts of the L.I.P. grants. But it was in those provinces that un- employment rates were high, government supporters said. EIGHT RIDINGS LIBERAL Under the new formula, of the 12 ridings that will be paid more than SI million in grants this year, eight are Liberal, seven of which are in Quebec. Three others are held by Con- servatives and one by Social Credit. The largest single amount will go to the riding of Bonaventure-Iles de la Madeleine, held by Liberal Albert Bechard. which has a whopping unemployment rate of 37.5 per cent. The riding will get GET TICKETS NOW! NEXT EARLY BIRD Draw is Nov. 18th PRIZES ARE: Sun Trip to Hawaii (valued at CASH PRIZES OF EACH Alberta to aid oilmen CALGARY (CP) Alberta Treasurer Gordon Miniely reaffirmed Tuesday that the Alberta government will aid the oil industry if Ottawa maintains its current tax policy. Mr. Miniely said he would be making a statement soon after the federal budget is brought down Monday if he believes its policies will damage the industry. A month ago, following meetings with federal of- ficials, the provincial treasurer said the province would not let the oil industry be harmed by taxation and royalty policies. "We won't stand by and watch the industry go back- the minister told a conference on sharing resource revenue. "I can't say specifically what we will do but we have been working on contingency plans." The federal government an- nounced in a budget last May that it was disallowing royalty payments to provinces as a deduction from corporate in- come tax. It said the action was taken because increased provincial royalty rates in Alberta and Saskatchewan were squeezing the federal government out of the resource tax field. The government was defeated on the budget and the measures never went into effect. But the industry feels a similar proposal might be made in the new federal budget. Oil companies say the com- bination of the two govern- ment measures would leave them little cash to finance new exploration. Trudeau protests Moroz case OTTAWA (CP) Prime Minister Pierre Trudeau has expressed his concern to Soviet Premier Alexei Kosygin about the health of a Ukrainian historian imprison- ed near Moscow for more than a year. "The health of Mr. (Valen- tyn) Moroz has been raised by the prime minister with Mr Kosygin and by myself just recently." External Affairs Minister Allan MacEachen said in the Commons Tuesday. Mr. MacEachen said he was told by Soviet authorities in September that Mr Moroz was in good health. "Since that time I have no- ticed reports to the effect that Mr Moroz's health is deterio- rating." he said "I have ask- ed that the matter be raised with the Soviet authorities and that an updating on the reports be sought." Former prime minister ,John Diefenbaker (PC-Pnnec Albert) asked what action the government has taken on behalf of Mr Moror Mr Diefenbaker said reports indicate that the out- spoken Ukrainian nationalist, who had been fasting to protest his imprisonment, "is bleeding to death because of forced feedings." "Since September this man has apparently lost a good deal of weight, he is virtually physically impotent" PHARMACY WINTER SPECIALS CONTACC PEAATED ST JACK PKg of 12 1.19 1 PRICES IN EFFECT WOOLCO PHARMACY BY AUSTIN (ALBERTA LTD.) THROUGH NOVEMBER DIVISION OF DOMINION CITBUS DRUGS LTC DEPARTMENT STORES College Shopping Mall 2025 Mayor Magrath Driva Monday, Tuesday ft Wedneaday a.m. to p.m. Thursday ft Friday a.m. to p.m. Saturday a.m. to p.m. 117 WITH CWBKIICf SffiSMCTION 6UAMNTKD ;