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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Dec 01, 1981
Page
7
The piece critiques the MacEachen budget amid calls for revisions as growth slows. It cites Conference Board forecasts of a mild 1981-82 recession, 8.2 percent unemployment, and 2.2 percent growth, noting investment declines and energy price pressures.
The Ontario Securities Commission hearing on negotiated brokerage rates resumes December 7 with no decision for months. Edward Waitzer of the OSC says the process is not adversarial, while opposition from the Toronto Stock Exchange cites fear of unknowns and potential small broker bankruptcies amid a market downturn.
The memo warns jobs may be lost due to the budget and premium funds for mortgages and corporate debt could be reduced. It predicts shorter mortgage maturities and redesign of whole life policies if federal plans proceed. Term policies may rise but cannot replace whole life. A young buyer may still seek short term coverage. The proposal would tax accrued investment income every third year.
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