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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 17, 1973, Lethbridge, Alberta 22-THE LETHBRIDQE Novwnbtr Tax column Federal government tax incentives produce desired results tax incen- tives produce desired By 1. H. ASPER The employment figures for released on give cause for cautious optim- ism. Apart from the phenome- non which obviously exists when we have almost as many unfilled jobs available as we have people listed as the federal govern- ment's fiscal policies seem to have worked to at least create the new jobs. Obviously the next govern- mental threat must be on the social To match the ex- isting jobs with the jobless through a combination of manpower training and greater incentives to work. One of the most heartening factors in the picture is the rate at which new jobs are be- ing particularly in manufacturing upon which we will be increasingly reliant in future to expand our inter- national trade. In the first six months of this employment in manufacturing increased by 5.8 per compared to the ten year average growth rate of only 1.8 per cent. Manufac- turers' capital spending es- timates for new plant and equipment were originally forecast to show an increase of nine per cent over last but by year end will likely be up by about 20 per cent. Overall figures for 1973 for the entire country are ex- tremely encouraging. It looks very much like real growth of the gross national product this year will be 9 per cent over last year. This compares favorably with the average annual growth rate of 5.4 per cent for the last decade. HIE YN M WIPING TO DIRECT ADVANCED NOMINATIONS ARE BEING RECEIVED FOR MEMBERS OF COMMITTEES TO ADVISE THE MINISTER COLLEGE AFFAIRS STUDENT AFFAIRS UNIVERSITY AFFAIRS EDUCATION OF NATIVE PEOPLE FURTHER EDUCATION VOCATIONAL TECHNICAL EDUCATION To facilitate and professional participation in policy development at the provincial To ensure representation of special needs and To give Advanced Education continuing access to knowledge and expertise that exists within the to advise the Minister of Advanced Education on matters within the area of concern of each A committee may recommend the initiation of studies. COMMITTEE WILL BE COMPOSED AS COLLEGE AFFAIRS members from the general public faculty members students EDUCATION OF NATIVE PEOPLE members from the general public members from organizations concerned faculty members FURTHER EDUCATION members from the general public members from the Further Education Council members from the Alberta Association for Continuing Education faculty members STUDENT AFFAIRS members from the general public graduate university students undergraduate university students other students VOCATIONAL AND TECHNICAL EDUCATION members from the general public faculty members students UNIVERSITY AFFAIRS members from the general public faculty members students MUST BE RECEIVED BEFORE DECEMBER 21.1973. Nominees must be prepared to attend two to six meetings a year for up to three years at the pleasure of the Minister. Upon consenting to nominee's telephone number and pertinent background information should be mailed ADVISORY COMMITTEES MINISTER OF ADVANCED EDUCATION 425 LEGISLATIVE BUILDING ALBERTA ADVANCED EDUCATION Other acid economic tests show positive results. The vol- ume of industrial production should increase this year by more than 12 per the average growth rate of re- cent times. The work force actually on the job is up by over 8 per in response to the federal government's initiatives in working toward further inter- national trade our merchandise exports are up by over 30 per highest increase in over twen- ty years. It is an economic picture which Ottawa can view with some considerable satisfac- tion. Barring the unpredic- table impact of the Middle East conflict upon the last quarter of the 1973 should finish an economic winner. If you ask Finance Minister John Turner and Trade and Commerce Minister Alastair Gillespie as to what they attribute their stunning they will readily point to the corner- stone of their program of in- dustrial the tax cuts for manufacturing and processing. The year came in under the cloud of President Nixon's DISC program aimed at repatriating to the United States the jobs associated with manufacturing for export. The Canadian government's response to that and to an economy that had to be stimulated was the reduc- tion of the corporate tax rate from 49 to 40 per cent for manufacturing and processing profits plus the increase in the rate at which they could write for tax deduction pur- new equipment they bought to 'modernize or ex- pand their production. Although the opposition re- sisted the Parlia- ment finally passed the bill and the formal regulations were issued on August 29th this year. Obviously the program has been an outstanding success and demonstrates once again that one of the most potent weapons in the arsenal of any Mackasey likes backbencher role OTTAWA Those who watched Bryce Mackasey perform verbal acrobatics through 10 years in the Com- mons would scarcely believe he could spend an entire year sitting like a bemused and detached spectator while the action bypassed him. But he has. sur- he has never looked better. transition to the backbench has been much easier than I says the former labor and man- power minister who quit the Trudeau cabinet almost a year ago. last year has been extremely good to I am regaining some spring and The 52-year-old MP from Verdun announced his resignation Nov. after five years in the citing the need for more time with his family and the oppor- tunity for private business. I guess I didn't fool too many The personally popular minister had just gone- through an exhaustive elec- tion campaign in which his un- employment insurance fund had become a major issue. He had stumped the country defending all Liberal candidates did the same thing and after a short southern holiday he had returned to Ot- tawa to hear caucus and the cabinet trying to decide who was the blame for the election losses. it got down to that kind of nattering in caucus and in the press I just decided to let someone else do the job. I have always been a team A cabinet shuffle already was in the works and Mr. Mackasey still had unpleasant memories of his move to man- power from labor eight months earlier when it was interpreted as an appease- ment to the business com- munity. Ex-president dies at 56 Ont. Earl K. first president of American Motors died Thursday in this community near Toronto. The Toronto-born executive was among those who opened American Motors' plant in in I960 after spending 16 years in the air- craft industry. Now he have an entirely new out- look on Parliament every minister should take a sab- batical from time to time and I feel I am ready to play a more active role again. Would he return to the cabinet if and I wouldn't know until the time comes But there is no par- ticular reason why I should be invited Mr. Mackasey also says he and Prime Minister Trudeau now have a warmer relationship than when he was in the cabinet. have great faith in that man government in influencing the economy is the tax incentive. In recent years it has become a popular fad to downgrade the tax incentive as an effective device. NDP Leader David Lewis attempted to run his entire election campaign last year on the corporate rip-off theme. With the obvious success of the incentive plan in the manufacturing and process- ing the government should be encouraged to con- sider similar programs in other trouble spots.' For in- it is a long time since tax incentives were used to combat regional economic disparity. Clearly if the tax cut were increased for those new manufacturing and processing industries which locate their facilities in slow growth we might see the beginning of the long sought trend toward a geo- graphically decentralized economy. In the businesses which don't ordinarily think of .themselves as manufacturers or processors would do well to study the new regulations. In some cases it may be in their best interest tax-wise to sepa- rate their operations so that whatever work they do which qualifies as manufacturing or processing may be easily ac- counted for and to which the reduced tax rate could apply. Asper is a Winnipeg law- INSURANCE LIABILITY BONDS AUTO FIRE ROSSITER AGENCIES LTD. .Established 1911 Floor 517 4th An. S. 327-1541 Beat the steel shortage. Getacolor bonus. There's a world steel shortage. And it's already affecting the availability and cost of all-steel farm buildings. But it won't affect yo'i if you order a Farmited now. Because for the time we can still promise firm prices and deliveries for early spring. And because there's no shortage of we'll make it even more worth your while to order now. We'll deliver your Farrmtcd 1 with colored walls for only 569 extra both 40' x 48' and 48' x 48' one-quarter the usual price. So talk to us soon. Save yourself a liulc money and maybe a lot of disappointment. ORDER NOW FORGUARANTEED PRICE AND DELIVERYOF A BUTLER FARMSTEDI. PHONE 3270334 2012 SOUTH MAYOR MAGRATH DRIVE LETHBRIDGEALTA The Lethbtldge Herald J Circulation Department Invites applications from boys and girls 12 years of age or older as paper carriers in the following areas in 1. Downtown 2. Glendale 3. Dieppe 4. Coutts Highway PtoMWrltoorPhom 1 THE CITY SUPERVISOR CIRCULATION DEPARTMENT i ;