07 Mar 1996
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Mar 07, 1996
Page
1
The Medicine Hat News publishes Energy Report 96 a 24 page magazine style supplement exploring the local energy industry. It covers people and practices shaping the sector and offers insights into gas price effects on utility bills and business outlooks for the community.
In Carrollton Georgia police rejected Khotu Kambui's claim of diplomatic immunity after inspecting his ID. Sheriff Jack Bell notes the “diplomatic” document used a pasted Polaroid photo and cites that Nigritia is not a real African country.
Chris Osgood former Medicine Hat Tiger netminder scored an empty net goal with 11 seconds left as the Detroit Red Wings beat the Hartford Whalers 4-2. He becomes the first NHL goalie to score since April 11 1989 and leads the league with 32 victories.
Finance Minister Paul Martin faces a tough balance as he pursues deficit targets while expanding social spending and announcing 2 billion in cuts mainly to defence and foreign aid. He warns of anxiety in Canada as debt nears 600 billion, with a pledge to grow health and education transfers after the turn of the century. Preston Manning blasts the plan, calling for firm date to eliminate the deficit and noting high interest costs. No major tax hikes on fuel or tobacco were moved forward.
The 1996 federal budget notes no new tax hikes with a deficit of 32.7 billion dollars about 4.2 percent of GDP, though final FY figures may fall. Seniors benefits stay intact but 2001 rules will favor lower income seniors while taxing higher earners. RRSP rules remove seven year carryforward limits and raise conversion age to 69. Education tax breaks expand for students and parents. Provincial transfers frozen for 1998 99 then rise slowly. Banks face continued restriction on entering insurance. Canada Revenue Commission to streamline tax administration with provinces.
Senator Bud Olson plans to resign his seat to become Alberta's lieutenant governor in Edmonton. He awaits a swearing in date after Gordon Towers retires, with Prime Minister Jean Chretien having offered the role and Olson coordinating with Premier Ralph Klein. Olson and Klein previously worked together in the 1980s.
Gas stations in Calgary and surrounding areas kept or raised prices amid speculation of a tax increase. Some retailers held at 49.9 cents a litre while others moved to 51.9–52.9 cents amid rising costs and market restoration talks. Local owners express frustration over timing and cost pressures.
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