Mortgage Rates Rise in Canada Spare the Government Action Sought
Ottawa reports mortgage interest rates climbed for the third straight month with Toronto Dominion Bank charging 9.75 percent on housing and conventional loans. Banks proceed to raise rates toward 10 percent, prompting Conservative questions in Commons about government intervention. Housing starts for May show an average 263,000 this year, the highest on record.
MENTIONED IN THIS ARTICLE
Ottawa
Toronto Dominion Bank
National Housing Act
House
G.W. Baldwin
Commons
Baldwin
Turner
Broadbent
NDP
Oshawa Whitby
New Democrats
Mortgage reform debate on housing rates and funding
Canadian lawmakers clash over mortgage policy as Tories and NDP push for rate ceilings akin to 1967 NHA levels. Basford touts a 100 million dollar annual financing act to inject funds into mortgage lending, while opponents fear higher debt and uncertain investor response. The bill aims to widen funding mechanisms but faces filibuster and unclear impact before summer recess.
MENTIONED IN THIS ARTICLE
West Canadian Microfilm Ltd
Ave
West
Guy Demarino
Southam News Services
Tories
Ron Basford
Commons
NDP
Royal tour ends today in Calgary with Indian rights plea
Regina dispatch reports the Queen and Prince Philip move from Regina to Calgary, ending an 11 day four province tour. Chief Dave Ahenakew asks the Queen to press for treaty rights protection as Harold Cardinal plans a similar appeal in Calgary. The Queen remains diplomatically silent following the RCMP ceremony.
MENTIONED IN THIS ARTICLE
Regina
Prince Philip
Calgary
Prairie
Dave Ahenakew
Prince Albert
Canada
Harold Cardinal
Indian Association of Alberta
Trudeau
Missing Canadians Talks continue in Vietnam
Negotiations over the rescue of two Canadian officers held by the Viet Cong north of Saigon continued. Capt. Ian Patten of Toronto and Capt. Fletcher Thomson of Ottawa were reported in good condition and treated well, though they were not on ICCS business when captured. The ICCS, PRG, and South Vietnamese officials met to secure safety guarantees and flight routes over PRG territory as the search proceeds.
MENTIONED IN THIS ARTICLE
Saigon
Here
Ian Patten
Toronto
Fletcher Thomson
Ottawa
ICCS
Duncan McAlpine
International Commission of Control and Supervision
Joint Military Commission
JMC
PRG
U.S. imposes export controls on 41 agricultural products
The Nixon administration ordered immediate export controls on 41 commodities including edible oils, animal fats, and livestock feed to curb the U.S. food price spiral and avert shortages. Frederick Dent said the move, backed by Earl Butz, extends prior limits on soybeans and cottonseeds and aims to ration supply for domestic stability.
MENTIONED IN THIS ARTICLE
Washington
Nixon
United States
Commerce
Frederick Dent
Agriculture
Earl Butz
Dent
Russia presses war prevention at European security talks
In Helsinki Canada pressed for broader human contacts at the European security conference. Soviet Foreign Minister Andrei Gromyko challenged the idea, urging focus on preventing war. Mitchell Sharp defended Canada as a disarmament advocate, citing Vienna talks.
MENTIONED IN THIS ARTICLE
Helsinki
Russia
Canada
Mitchell Sharp
Andrei Gromyko
Sharp
Vienna
Mayor slams health board over Hycroft plant case
Mayor Harry Weiner charged that the provincial board of health is being extremely unfair as it pursues legal action over dust levels at the Hycroft China plant. He pleaded guilty to violations while noting air samples from September showed excess dust and defended costly ventilation upgrades for about 60 workers. He criticized a young inspector and said he has cooperated to curb dust, insisting he has a clear conscience.
MENTIONED IN THIS ARTICLE
Harry Weiner
Provincial Board of Health
Hycroft China
the News
Hycroft
Board of Health
Alberta
Health Board
House passes tax cuts in Commons amid minority tensions
Ottawa CP reports the government’s corporate tax cuts cleared their final hurdle in the Commons by a 165 to 23 margin with Liberals Conservatives and Social Credit supporting. The measure lowers manufacturing tax to 40 percent from 49 and allows faster equipment writeoffs. The bill is retroactive to Jan 1. A separate bill would cut personal income taxes by 1.3 billion dollars from Jan 1 1974, while two farm tax relief amendments are promised.
MENTIONED IN THIS ARTICLE
Ottawa
John Turner
New Democrats
Conservatives
Social Credit
Robert Stanfield
Turner
Stanfield
Trudeau
House
Also Mentioned on This Page
Mr. Baldwin
Ahenakew
Saskatchewan
RCMP
W. L. Higgitt
ROYAL
Queen Elizabeth
Queen
Vietnam
Xuan Loc
Cam Tam
U.S
Gromyko
Pease Drive
Mayor Claims Board
Liberal
Conservative
New Democrat
Independent
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