Ottawa budget hits commercial builders in major cities
Finance Minister Benson targets inflation by delaying two year depreciation for new commercial buildings in Ontario Alberta and British Columbia urban centres while excluding housing industrial public works and utilities. The policy aims to curb construction demand and free funds for essential services with regional penalties applied only to selected cities.
MENTIONED IN THIS ARTICLE
Duart Farquharson
Southam News Services
Ottawa
Ontario
Alberta
British Columbia
Toronto
Hamilton
Vancouver
Victoria
B.C
Calgary
Edmonton
Benson
Windfall in revenues from inflation and growth
Ottawa plans a tough anti inflationary budget after a 375 million dollar windfall in revenues. Finance Minister Benson extends tax increases, expands the 3 per cent tax purchase to 1970, and targets reduced private demand to curb inflation. GDP growth projected over 5 percent, unemployment to fall, productivity lag persists.
Premier Strom calls budget tax deferral discriminatory
Premier Harry Strom condemned the federal budget move to defer two years depreciation allowances for commercial property as rank discrimination against Alberta British Columbia and Ontario. He said the policy selectively targets the three provinces and should be applied uniformly to curb inflation. He noted little impact from import duty reductions and will study the full budget before commenting further.
MENTIONED IN THIS ARTICLE
Edmonton
Harry Strom
Strom
Alberta
British Columbia
Ontario
Edgar Benson
Agricultural Department
Ray P. Dixon
Dixon
Agriculture Department
Lethbridge
Fairview
Red Deer
Health Department
Stanfield calls Benson budget a setback for slow growth
Opposition leader Robert Stanfield decries the Benson budget as very bad news for areas of slow growth. He faults tight money policies for failing to ease Western farmers’ cash shortages and warns it widens regional disparities. Other leaders condemn the plan as insufficient to curb inflation and unemployment.
MENTIONED IN THIS ARTICLE
Ottawa
Robert Stanfield
Edgar Benson
Commons
Stanfield
Benson
Benson Aims for Surplus in Inflation Battle Budget
Ottawa details budget by Finance Minister E. J. Benson aiming for first real surplus since 1956-57. Proposals keep personal and corporate taxes, extend 3 per cent surtax to 1970, finish Kennedy tariff cuts, defer depreciation on new commercial buildings, liberalize tourist exemptions, and tax airline tickets. Net surplus projected at 250 million for 1969-70. no major tax cuts now, with reform paper due during recess.
MENTIONED IN THIS ARTICLE
Ottawa
Benson
Canada
Toronto
Hamilton
Calgary
Vancouver
Buffalo
Seattle
Lambert
Commons
Stanfield
John R. Walker
Southam News
Finance
E. J. Benson
St. Laurent
Ontario
British Columbia
Alberta
Iater
Ottawa budget to ease traveller exemptions and levy airport tax
Canada plans a generous duty free exemption for returning travelers after 48 hours and for 12 days abroad, expanding to U.S. points and quarterly limits. A new 25 percent combined duty tax on non exempt goods up to 100 dollars and a flat five dollar exemption will apply immediately, with alcohol and tobacco excluded.
MENTIONED IN THIS ARTICLE
Finance Department
North America
U.S
Canada laments ECM subsidies hurt grain trade
Paris Feb ? Canadian Trade Minister Jean-Luc Pepin warned French businessmen that Canada’s agricultural exports face damage from European Community subsidies. He cited below-minimum price competition, loss of barley sales in Japan, and restricted access to the Common Market. Pepin urged an end to such practices and stronger Canada Europe trade relations.
MENTIONED IN THIS ARTICLE
Paris
Jean-Luc Pepin
Canada
France
Pepin
Chambre ‘de Commerce France-Canada
Japan
Intercepted Russian Bombers Near Newfoundland Coast
Canadian jet planes intercepted a flight of Russian Bear bombers about 90 miles off Newfoundland on May 14. Voodoo interceptors identified the four-engine bears, noted for long range and air to surface nuclear capability, but officials said the bombers showed no hostile intent.
MENTIONED IN THIS ARTICLE
Ottawa
Newfoundland
Defence Department
North American Air Defence Command
New Alberta milk control board to start November
Alberta will implement a new milk control board on November 1 to oversee all fluid milk control except prices, which stay with the Utilities Board. The move follows producer complaints that some plants paid butterfat prices while directing milk to manufacturing, prompting a push for direct farm-to-manufacturing transfers and higher producer prices.
MENTIONED IN THIS ARTICLE
New Milk Control Board For
Alberta
Calgary
Milk Control Board
Province
Alberta Milk Producers Association
Jack Hawkwood
Cochrane
Public Utilities Board
The
Utilities Board
Also Mentioned on This Page
Michael Cassidy
Financial Times
NDP
Max Saltsman
Waterloo
New Democrat
Tommy Douglas
Marcel Lambert
Edmonton West
Bob Hill
Hawkwood
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