13 Nov 1981
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Nov 13, 1981
Page
1
Ottawa outlines a major tax reform to raise 2.5 billion in the next fiscal year while cutting personal and corporate taxes for about one third of 16 million taxpayers. Spending rises to 75.4 billion, with a 10.5 billion deficit, and includes cuts to provincial transfers, capped inflation indexing, and new housing and farming support measures.
Allan MacEachen unveiled a 76.3 billion dollar budget aiming to cut the deficit by 3 billion and trim top personal tax rates from 60–65 percent to about 50 percent. It preserves income tax indexing, shifts Medicare costs sparingly, and introduces tax reform that closes loopholes for personal corporations while offering limited homeowner relief and provincial tax-sharing talks. The package skirts wage and price controls and softens NEP measures to ease business and investor concern.
Western farm leaders report minimal optimism from the budget for grain and meat producers facing a financial crisis. The Canadian Federation of Agriculture says relief is insufficient and a full assessment will wait on thorough review.
Alberta Advanced Education and Manpower Minister Jim Horsman voiced concern over federal cuts totaling 5.7 billion over five years, with 900 million next year. He urged careful analysis by Treasurer Lou Hyndman and negotiations with Ottawa to minimize impact on post secondary education and growth in Alberta. Farmers expressed dismay at the budget, noting higher costs and lower prices, while FCC funding was praised as limited relief.
Weather map notes Sunny high of 14 with 2 low. Ministers in Alberta avoid budget talk while opposition presses. Horsman column canceled drawing criticism from Jim Horsman. Eskimos look to Warren Moon in CFL Western final against BC Lions. Constitutional reform talks stall politics for decades.
Bert Hargrave of the Progressive Conservative party criticizes Finance Minister Allan MacEachen's upcoming budget for failing to address key economic questions. He warns of rising unemployment, limited relief for farmers, and potential cuts to provincial transfer payments, while praising small business support and farm credit measures though calling $50 million insufficient.
Hargrave warned of continued hardship in several agricultural sectors while supporting the extension of the small business development bond for a year and extending farmer coverage. He praised higher defence spending, NATO leadership, and MacEachen’s stance on 17 and 18 percent increases, and welcomed the stance against reintroducing price and wage controls or foreign exchange controls. It will take weeks to study the eight budget documents.
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