Chretien Budgets Cuts Sales Taxes Across Provinces
Finance Minister Jean Chretien unveiled Canada's first federal provincial budget aimed at stimulating a stuttering economy with a three point sales tax cut in eight provinces and full Ottawa funding for the Atlantic region. The package also expands RRSPs into RRIFs and offers a 150 percent immediate tax write-off for research and development expenses, with overall growth forecast nudged toward five percent. Ottawa finance officials stress the plan relies on Quebec approval to be nationwide and note no change to individual tax amounts.
MENTIONED IN THIS ARTICLE
Don McGillivray
Southam
Ottawa
Jean Chretien
Quebec
Chretien
Atlantic
Atlantic Provinces
Ontario
Manitoba
British Columbia
Saskatchewan
Alberta
Mr. Chretien
Newfoundland
Maritime Provinces
Finance Department
Judith Maxwell
Montreal
C.D. Howe Research Institute
Unemployment climbs in March as 38,000 join jobless rolls
Statistics Canada reports March unemployment rising to 8.6 percent with 1,045,000 unemployed and a rise from February. The data shows 38,000 more jobless, 15-24 year olds hardest hit at 15.1 percent, and a general rise across seven provinces.
MENTIONED IN THIS ARTICLE
Ottawa
Statistics Canada
Jean Chretien
McGrath
Manitoba
Budget to boost oil sands projects gains tax concessions
Ottawa unveils a budget package offering tax breaks for future Alberta oil sands and heavy oil plants. Measures increase depletion allowances to 50 percent for enhanced recovery, raise the maximum plow-into-project amount to 50 percent, and treat upgrading plants as manufacturing with two year write-offs and a 30 percent corporate tax rate. Officials caution the framework targets future projects, with no immediate budget impact.
MENTIONED IN THIS ARTICLE
Donsellar Southam News Services
Ottawa
Canada
Jean Chretien
Alberta
Imperial Oil Ltd
Cold Lake
Alta
Leitch Questions Federal Budget Impact on Alberta Subsidy
Alberta Provincial Treasurer Merv Leitch voiced cautious concern over the federal budget noting uneven provincial treatment of the sales tax subsidy. He welcomed potential depreciation allowances for oil sands spending but warned long-term solutions may await the next federal election. Energy Minister Getty also cautioned on the incentive's effect, especially for in situ projects at Cold Lake and tertiary recovery, as officials calculate overall impact.
MENTIONED IN THIS ARTICLE
Edmonton
Merv Leitch
Atlantic
Alberta
Leitch
Cold Lake
Energy Department
City faces 14 percent hike in total taxes from school bills
Finance director Harold Ellis warned that an eight per cent rise in school supplementary requisitions will lift the overall tax bill by about 14 percent over 1977. Public school budget would raise the average homeowner’s tax to 205 dollars from 162.73, a 36 percent jump. separate district likely higher. The city itself plans no tax increase for homeowners this year, Ellis said.
MENTIONED IN THIS ARTICLE
Harold Ellis
Public
Eric Murray
Ellis
Alberta jobless rate drops despite March unemployment rise
Alberta's seasonally adjusted jobless rate fell by 0.2 percent to 4.5 percent, the lowest in the country, as the labor force rose to 918,000 and employment climbed to 867,000 in March. The actual unemployment rate stood at 5.5 percent with 51,000 unemployed, up from February.
MENTIONED IN THIS ARTICLE
Edmonton
Bert Hohel
Alberta
Chretiens budget seen as gamble in Canada
Ottawa analyzes Jean Chretiens pre election budget as a gamble with limited stimulus to a weak economy. The plan relies on an $800 million provincial sales tax cut expanding to $1.2 billion, aiming to curb inflation while risking little long term growth.
MENTIONED IN THIS ARTICLE
Chretien
The
Commons
Ed Broadbent
New Democratic Party
James McGrath
St. John's East
Ottawa
Jean Chretien
Trudeau
Dole
Also Mentioned on This Page
Suffield
Canadian Forces Base
Dan Lander
Imperial
Treasury
Don Getty
Southam News Services
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!