Winnipeg Free Press

Winnipeg Free Press (Newspaper) - November 29, 1965, Winnipeg, Manitoba Winnipeg free press monday. November 29. 1965 govt. Keeps close watch on inflationary situation pm i l t 1-1 _ 9r i f Ottawa staff Canada is now in the midst of a mounting inflationary period a finance department spokesman said Friday. The government is watching the situation closely and the finance experts say the trick is to apply curbs where and when necessary to keep the inflationary pressures from reaching the danger Point but at the same time the curbs must be applied in such a Way that they do not bring the current economic expansion to a halt one source said. During the recent general election Campaign. Prime min ister i. B. Pearson Industry if you Are now taking f a laxative once twice or three times a week i m Lodati la Vallve Tablet with tha gentle difference take gentle acting it. Nature s remedy there is no letdown no uncomfortable after feeling. It is an All veg tabla laxative. For Over 70 years it has been giving folks pleasant effective Relief overnight a Confehr. Tomorrow alright Happi you Ond look no Croutc Coamo Vum Jou minister c. M. Drury and Trade minister Mitchell Sharp a All voiced warnings that Canada was entering into an inflationary with the econ omy expanding at such a rapid rate they said the rapid growth was bound to bring with it the dangers of inflation. J or. S. Pearson warned that faced with such a situation it was essential that the incoming government be Given a solid majority so that it could act effectively and decisively r to meet the dangers of inflation. Or. Drury and i or. R Sharp voiced similar warnings. But or. Pearson did not gel his majority. A with or. Sharp now installed As acting finance min ister a financial i department spokesman said emphatically there arc no decisions being held up and no action being stalled because of the fact that a new finance minister has not yet been named by the prime i f conviction grows the conviction is growing Here on capital Hill that or. Sharp will be Given the finance portfolio full time by the prime minister when he returns from his Brief Holiday in c the Caribbean. Or. Sharp is acting minister and in the i words of one member of the department believe me he is really however the finance experts Point out that monetary policy alone cannot be expected to do the Job entirely of controlling inflation. There arc Many Steps that can be taken. They also pointed out that Europe and the Price t too High Toronto up Lucio Casaccio is a sentimental Man when it comes to Selling his property especially when would be buyers offer him less than he wants. Or. Casaccio s feet Long and 20 feet. Inches wide containing a weathered two Storey Frame the i last i of a group which a downtown Developer hoped to Purchase in the first phase of a Large housing project. He was offered he held out for a but the developers decided the Price was too High. As a result the nearest apartment building will be without balconies on the cast Side in order to meet a set Back bylaw requirement. United states Are experiencing inflation. Vone financial authority in the government said it was nonsensical to expect the finance department to specifically set out Steps it had or would be taking to curb the inflationary pressures. He said you just Don t name specific it is a task that involves Many areas and cuts across govern ment activities. He also dismissed As non sense any suggestion that Canada might be slipping into a serious inflationary period without. A firm hand on the finance portfolio at this time. He said that or. Sharp was taking a firm hold and canadians could rest assured that whatever decisions might be required would be made. To the provisions of the recent government financing were aimed the Canadian Bond Market and to Mako an easier matter for borrowers to raise new Money in this country. One financial authority suggested that the Bank of Canada has endeavoured to make it Clear that it docs not want Bank were hoping that this move would assist in bringing out investment capital which had been avoiding the Bond Market. The question concerning government officials is what Steps additional to already taken should the government implement to curb the mounting inflationary v pressures. The previous Pearson administration acted last August when it Cut Back on Federal construction projects. Another cutback May be made. The imposition of the 11 per cent t sales tax on building materials and productive machinery has boosted v the government s r e n u c s and acted to a degree in keeping the lid on the Boom. To remove it at this time As is advocated by some opposition groups would Only add to the inflationary pressures. The Canada pension plan which goes into operation with deductions from payrolls com mencing Jan. 1 will curtail to some extent Tho total consumer demand. It will withdraw 3.6 per cent of payrolls deductions from employees matched by interest rates to Rise above the it May have some general level of about per Over All Impact in curtailing cent on Long term Canada Bonds consumer expenditures. Total Bonds. Contributions Are estimated at it was suggested that both the million in the first year. Government and r the Central i however the Impact of these deductions will be offset partially by a reduction in income taxes because the pension plan levies arc deductible. There will be an immeasurable diversion from private pension plans. As a consequence the resultant curtailment in consumer outlays May not be As Large As some had anticipated. S communism As cure Lead ing russian doctor has suggested a new cure for Harden ing of the arteries communism. Prof. A. L. A member of the soviet Academy of wrote in Pic news paper trud _ one can expect that the further development of the socialist forms of life and of communist Mutual relations be tween men and the continually rising Prosperity of the workers will help the doctors to Over come that Scourge of our time 1 Mold destroys i about 150 million pounds of bread in a year. Tim Buck in Hanoi in Moscow a the soviet news Agency Tass reported sat urday that North vietnamese president to Chi Minh received a Canadian communist party delegation led by its chairman Tim Buck in Hanoi Friday. Tass quoted the North Vietnam Ese news Agency As saying the talks were Friendly but no de tails were Given. 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