30 Mar 1960
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Mar 30, 1960
Page
1
Finance minister Fleming released a white paper showing a preliminary budget deficit of 405.8 million dollars for the year ending Thursday, 1959-60. Revenues rose 12 percent to 5.301 billion while expenditures climbed six percent to 5.707 billion, with debt charges hospital insurance and tax-sharing payments driving the rise.
The text discusses the old age security fund deficits and a bookkeeping decision by Mr. Fleming. It notes the 1958-59 deficit of 184 million and the 1959-60 deficit of 24.1 million, with tax boosts intended to balance the fund in two to three years. It cites 1959-60 tax receipts and pension payments and links revenue, spending, and national product growth to the economy’s recovery.
Canada reports total real income grows as labor income reaches 17.7 billion with 8 percent gain and consumer prices up only 1 percent. Unemployment falls to 5.6 percent from 6.6 while government accounts show a 75.7 million cash balance decline and a gross public debt rise to 20.996 billion. Net debt increases by 403.5 million, offset by a 343.1 million net asset gain.
Personal income taxes remained the main budget source at 29.3 percent rising to 1.555 billion dollars in 1959 60 from 1.3535 billion the prior year. Corporation taxes 21.5 percent to 1.14 billion dollars sales taxes 737 million and customs tariffs 529 million also rose. Defence remained the largest outlay at 27 percent but declined by 105.7 million to 1.5283 billion while public debt charges rose to 786.1 million and subsidies to provinces climbed to 522 million in 1959 60. Population growth pushed family allowance payments to 491.3 million and Ottawa's five percent hospital insurance share rose to 149.8 million as the plan expanded from five to nine provinces.
President Eisenhower said signs indicate Soviet leaders seek some disarmament and a limited nuclear test control treaty. He noted the Russians have moved from demanding a blanket test halt and show willingness to negotiate further. The remarks came at a press conference with Prime Minister Macmillan present at Camp David, Md.
Muddy but ample supply turned to a complete shutoff Tuesday in Redcliff. Ice from spring break up blocked the suction line to the pump, triggering school closures, factory stoppages, and a cautious city response led by Mayor Alf Dutton as crews deployed an emergency pump to restore limited water pressure by late afternoon.
Tenders remarked on a productive day while noting a large amount of water, about 5000 gallons, in the basement, affecting operations and possibly future planning. The remark suggests weather or flood-related disruption influencing daily business.
More than 30,000 people gathered before the Capetown police station seeking release of arrested leaders but dispersed in frustration. Prime Minister Verwoerd announced the collapse of the protest amid a proclaimed state of emergency and mobilization of armed forces.
Torrential rains hit northeastern Brazil flooding drought areas as hundreds of thousands flee advancing waters. The Jaguaribe River Valley reports the first deaths with six bodies found near Mapua in Ceara state.
Buckingham Palace officials announced that Prince Andrew will be christened on April 8 at the palace with the Archbishop of Canterbury performing the ceremony.
South Africa’s UN delegate Fourie withdraws from the Security Council table warning debate could incite racial strife at home. The council discusses violence in South Africa as Britain France and Italy note jurisdiction limits. In Washington the US charges Arthur Murray Inc. with deceptive practices in selling dance lessons. Murray and his wife faced a grand jury inquiry in St. Louis over studio controls and a $25,000 case involving an elderly customer.
Treacherous ice floes in Hamilton Inlet sank the 379 ton sealer Terra Nova off Labrador. The 39 man crew walked to safety aboard nearby ships after the vessel stranded in heavy ice for three weeks. Crew finally moved 1,800 seals onto other ships on Sunday.
Soviet Premier Khrushchev said the latest Western disarmament proposals have nothing in common with those he offered to the United Nations. He warned the West denies the principle of disarmament and called for shared ground, citing alignment with U S and British proposals on nuclear tests.
British firefighters voted to give their first week’s wage increase to the widows and orphans of 19 colleagues killed in Glasgow’s whiskey warehouse fire. The gift totals about 21,000 pounds while rescue teams continue to search the wreckage for more bodies.
Flood waters from swollen rivers sweep Nebraska Kansas Iowa Missouri Illinois Wisconsin Minnesota and the Dakotas. Nebraska Iowa endure disaster declarations as parks and farms flood and seven eastern counties gain relief. Tornadoes strike Iowa and Missouri as storms bring deaths and property loss.
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