Budget praises and criticisms follow Turner's plan
Business leaders hailed the Turner's budget as a shot-in-the-arm with corporate tax cuts seen as a boon for manufacturers. Opposition figures argued for broader cuts and warned against relying on corporate reductions to spur jobs while premiers and provincial leaders offered mixed reviews citing tax fairness and regional impacts.
MENTIONED IN THIS ARTICLE
John Turner
Gerard Filton
Canadian Manufacturers’ Association
Robert Stan
Turner unveils major tax cuts and pension boosts
Ottawa budget by Finance Minister John Turner promises about 1 billion in tax cuts and pension increases aimed at four groups. Old age pensions rise with living costs, the 65 exemption increases to 1000, student exemptions gain 50 a month, and veterans receive annual increases linked to the CPI. Business incentives total 500 million, with manufacturing tax cuts and depreciation changes, while no personal rate changes.
MENTIONED IN THIS ARTICLE
Ottawa
John Turner
Turner
Jascus
Maiden
Nixon escalates Vietnam campaign
President Nixon announced drastic moves to mine North Vietnamese ports and cut off Soviet arms flowing to Hanoi. He ordered intensified bombing and warned Moscow to halt supplies within three days or face destruction of Soviet ships. The plan, described as a sea quarantine, risks a direct clash with the Soviet Union ahead of his Moscow summit.
MENTIONED IN THIS ARTICLE
Washington
Nixon
Moscow
Hanoi
North Vietnam
Associated Press
Soviet Union
Haiphong Ports Mined As US Fleet Presses North Vietnam
Saigon reports the largest U S air and naval force in Vietnam began mining Haiphong and other North Vietnamese ports and bombing railways and highways. One MiG jet downed as the blockade began. Rear Admiral Rembrandt Robinson killed when a helicopter crashed. 60 ships with 5 carriers and 350 to 400 planes deployed to cut off materiel and sever inland communications.
MENTIONED IN THIS ARTICLE
Saigon
U.S
Vietnam
Haiphong
North Vietnam
Nixon
Tonkin Gulf
Rembrandt Robinson
Providence
Robinson
North Vietnamese
Nixon called aggressive acts spark Vietnam tensions
Tass accused President Nixon of naked aggressive acts and violating international law over plans to mine North Vietnamese ports and threaten internal routes. The dispatch, dated in Washington, claimed Nixon justified the moves as saving 60,000 American lives while threatening Soviet shipping.
MENTIONED IN THIS ARTICLE
Moscow
Tass
Nixon
North Vietnam
Washington
North
Vietnam
Buttering up charge levelled at Liberals
CALGARY CP The budget drew mixed reactions from Alberta labor and oil interests. Eugene Mitchell said the budget panders to electors and offers little for workers while some industry leaders praised tax aids for capital investment but criticized omissions for petroleum. Union voices attacked the plan as inadequate for working people.
MENTIONED IN THIS ARTICLE
Calgary
Eugene Mitchell
Alberta Federation of Labor
Edmonton
Canadian Petroleum Association
Independent Petroleum Association of Canada
Dave Furlong
CPA
Canada
G. W. Cameron
Independent Association
Carl Nickle
Orlando Camp
Provinces Offered Guarantee Against Revenue Losses
Ottawa Finance Minister Turner announced a five year guarantee to all ten provinces against revenue losses from budget measures. He warned Quebec and others with harmonized tax systems could see substantial impacts and said the federal government will absorb any revenue costs the provinces would otherwise bear under the revised tax reform.
MENTIONED IN THIS ARTICLE
Maritimes
Nova Scotia
Gerald Regan
Turner
Ontario
William Davis
Ottawa
Saul Cherniack
Manitoba
NDP
Saskatchewan
Allan Blakeney
General Motors
Canada
Quebec
Ottawa’s
Rescue team reaches 4800-foot level at Sunshine mine
A two man rescue crew reached the 4,800-foot level of the Sunshine silver mine in Kellogg Idaho but returned to the surface without entering the main shaft area where 58 miners are believed trapped since last Tuesday. They descended in a capsule through a four-foot air shaft taking 12 hours while other crews prepare to probe a mile long tunnel. The news dims hopes as air lifelines were severed hours before the attempt, raising concerns that survivors may be limited to air pockets independent of the compressed air system. Relatives of the missing men endured a vigil at the pithead six days into the disaster.
MENTIONED IN THIS ARTICLE
Kellogg
Idaho
Sunshine
Lou Helm
Interior Department
Marvin Chase
Also Mentioned on This Page
Field
David Lewis
New Democratic Party
Marcel Lambert
Max Saltsman
Gordon Miniely
Alberta
British Columbia
Social Credit
W.A.C. Bennett
Bennett
Neil V. German
Canadian Chamber of Commerce
Business Reaction
Canadian Press Corporation
By Ben Tierney
Southam News Services
Trudeau
House of Commons
Canadian Union of Public Employees
Nickle
Daily Oil Bulletin
Gray
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