Winnipeg Free Press

Winnipeg Free Press (Newspaper) - September 18, 1981, Winnipeg, Manitoba S Winnipeg free september High rates put heat on Ottawa government worried about Public reaction Ottawa the heat is being put on the government in Waves these it is the heat generated by extremely High interest rates and it is coming from Small Farmers and peo ple rolling Over it is coming in messages from All kinds of interest groups and i Dividu through direct representations and through members of the for its looks helpless and it knows it looks bad that there is an intensity in the Public anger that might not dissipate before the next general if it had not got the message after innumerable representations and two by election defeats last the government certainly found out on sep tember 15 just How serious the problem is both economic and Only question when thet sberal caucus of maps and senators met Here interest rates were practically the Only question and even among its most Stalwart supporters the government found severe from a purely political prime minister Trudeau did not help the governments cause when he said assistance could Only be afforded those who Are in dire with grim humor a Southern Ontario town and changed its name to dire those words will not be soon forgot ten by an irate the governments dilemna is two it cannot do much about High interest and it cannot do much to help those being crippled financially by High interest the government does not even hold out Hope for an Early decline in interest just last week the government announced that the interest rate of Canada savings Bonds will jump to per the highest rate on no vember that record rate will apply for one year and will be paid on All existing cubs As Well As this Falls Short term Money will remain at about current Levels at least until november 1 and perhaps de pending on How Long the new Issue is left on the after the first year an interest rate of per cent is that As in past will be increased As is necessary to prevent Large scale re there have been an unprecedented four increases in cab interest rates in Peter Thomson Ottawa editor the past year in an Effort to slow the rate of holders have cashed in some billion Worth of the compared with billion a year the massive redemption have been a headache to the run Ning As the government is with an enormous it has to replace redeemed cubs with other to a Large the Canadian government is paying for past for a dozen years it has led the Canadian people through a fools Para Dise that was practically devoid of fiscal paying the Bill Federal spending has been extra Van the reality of paying the Bill has been repeatedly it has reached the Point where Cost of carry ing the National debt promises to be an onerous Burden on taxpayers in the it is costing More than 20 per cent of revenues just to pay interest Canadas deficit comparatively twice As Large As that of the where there Are deep misgivings about the ability of the Economy to shoulder the Canada got into economic mess partly because of the widely held in the Early that the Economy would continue to expand As rapidly As it had in the 1950s and and the larger Economy would generate the revenues to pay the Bills it got into the present difficulties partly because politicians like to be seen to be doing things for the people and because Federal politicians have been encouraged along the Way by Federal bureaucrats who like to see programs run from Ottawa and find that the Best Way to achieve that goal is to have Ottawa spend the Money that supports the it has All led to the Point where the Canadian because of fiscal irresponsibility in the is awfully Canada has no Freedom of movement no Independence from interest when rates go Canadian rates must be pushed up also to prevent an outflow of Money which would further weaken the condemn the Canadian politicians and condemn the for its High interest rate policy which is driving up rates in but the reason Canada is such a slave to rates reflects right Back to past the Trudeau government faces the same problem when it comes to helping those who Are badly Hurt by High interest it would be a dangerous and exercise to assist one group and not to do something for people rolling Over mortgages and not for Small businessmen or Farmers would be these Are the groups attracting the most attention the people who have to renew an existing mortgage at current rates and thus face a crippling increase in payments the Small particularly those with Large and slow moving depend on lending institutions for operating Capi Tal and Farmers who Are in much the same both Trudeau and finance minister Maceachen have warned that there is nothing the government can do for notwithstanding protest Foote ments such As the action last tuesday that Drew 700 people to parliament Hill while Liberal maps told the ministers just How critical the situation finance department officials Are working Long hours trying to devise schemes which would appear to help the even if the assistance is More illusory than one designed to help those rolling Over that is gaining considerable attention would have homeowners pay As much of the Mort Gage interest As the balance of the interest charge would be rolled Back into the principal amount out standing on the the theory is that most houses have appreciated in due to since the original mortgage was Grant there is sufficient equity there to cover a larger mortgage until such time As interest rates there would be no great risk for the his funds would be another advantage of the from the governments Point of is that it would Cost the Federal Treasury nothing although Chc might be encouraged to insure the mortgage to give the perception of some Federal the program would be administered by x9 loaded 1981 grand Marquis 4 door this luxury machine is loaded with Power tilt Power stereo Many More luxury finished in a two tone they gotta go of Huwui in p255 1981 escort automatic tront wheel 3 door Hatchback with automatic radial body Side finished in a medium Blue they gotta go i with automatic p261 1981 Cougar 4 Doo finished in a Beautiful two tone Gold Brown with Matching luxury Interior a equipped with 6 Cylinder they gotta go p254 air condition 1981 Granada go equipped with tinted air 6 luxury finished in a Beautiful two tone they gotta go p263 1981 Capri two tone Blue this Beauty is equipped with 6 Cylinder at this Price you dont have to look any further they gotta go it Cylinder 4fe to fac 9 g Muiz it m pm w w p251 1981 Zephyr 4 Dol finished in a two tone red Silver equipped with 6 Cylinder Auto defrost radial tires they gotta go 750 Pembina 2847650 open tonight and ail Day saturday angry nation sends a Clear message about High interest rates to Federal government traditional mortgage lenders the Trust companies and insurance there have been hints that the government might try to make More funds available for the farm credit Corpora Tion so that its Loans could be extended with part of interest payments taking the form of increased principal of the such Are Little More than Lon term pain for Short term they Are not a solution for the inter est rate fiasco the government has brought As no official has hinted at a Way of assisting the hard pressed Small it can be can always move to dire hamburger refers to net weight before offer valid until september 28th cheese Tomato extra its the same delicious Wendy hamburger you know and love a full Quarter of 100n fresh beef t cooked never Frozen served up piping right off the Grill topped off just the Way you like it Debord ants de Haj Cheugh aint no reason to go anyplace 4f w i ii ;