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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Jun 29, 1982
Page
8
Ottawa reports the unemployment insurance fund will run a 2.2 billion deficit for 1982. The higher shortfall stems from forecasts of a record jobless rate, with unemployment hitting 10.2 percent in June and 1.25 million workers seeking work. Premiums may rise to 2.50 per 100 insurable earnings next year.
Canadian Labour Congress leader Dennis Mc Dermott says he will urge a nationwide general strike after Finance Minister Allan MacEachen unveils wage controls on more than 500 000 federal workers for two years. The plan targets judges soldiers RCMP and Parliament salary increases fall to six percent July 1 and five percent next year.
A federal plan would offer at least 725 million a year in interest rate relief to new home buyers farmers fishers and small entrepreneurs under a white paper on inflation and taxation. The program could cut loan interest by over 3000 a year on 50000 loans and may retroactively apply.
Finance Minister Allan MacEachen eased the Nov 12 tax on accrued income from life policies. The revised plan exempts most regular policies held 20 years or more while targeting policies used as tax dodges. Old policies purchased before today are not affected.
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