Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 25, 1985, Winnipeg, Manitoba Market update dosing prices Japan automakers prepare for Winnipeg free press May 1985 Page 16 Little Impact on Dollar forecast government seeks borrowing Powers by Donald Mckenzie Montreal up finance minister Michael Wilsons debut budget is unlikely to have a dramatic affect on the Canadian Money traders predicted Wilsons budget didst impress said Jim assistant vice president of Citibank in its not going to strengthen the although the budget is expected to Cut the Federal deficit for 198586 to billion from the billion that Wilson predicted in Snook was not impressed with the billion the deficit should have been reduced even he Snook predicted that the Dollar which closed yesterday Down 19100 of a cent at cents would weaken visa is its counterpart because of continued commercial demand for the the Dollar will Trade Between 72 cents and 73 cents in the next month or As capital inflow into the Stock Market keeps the Dollar Snook the Canadian Dollar has been holding steady Between and 73 cents As interest rates fall in the Wake of reports that economic growth is slowing the bellwether Bank of Canada rate has followed dropping thursday to per cent its lowest level in 18 Snooks said the Central Bank should try to increase the difference Between and Canadian the american prime now stands at 10 per while Canadian chartered Banks have a prime the rate they charge their Best corporate customers of per higher Canadian interest rates make Dollar investments Here More attractive and in turn increase the demand for and the value of the Dave senior manager of foreign Exchange at the Toronto do minion Bank in said he didst believe the budget would really help the Canadian Olympia and York developments takeover of Gulf Canada on thurs Day is More Likely to have a bigger Impact on the Cameron Olympia and York bought per cent of Gulf from Chevron for about billion with an option to buy chevrons remaining 11 per cent stake for an extra the agreement requires Olympia and York to pay about half of the initial billion and the option in dollars at an Exchange rate specified in the the remainder will be paid in Canadian although Chevron has informed Ottawa that it will arrange the financing to minimize any Impact on the Canadian there Are concerns the size of the Deal could make the Dollar the Canadian Dollar could come under pressure until the order is said Cameron said the Dollar should also depreciate next week because of month end dividend and repatriation payments by Canadian subsidiaries to their Parent these payments Are paid in Ameri can Albert chief dealer of for eign Exchange at the Royal Bank of Canada in said the budget could have a slightly negative effect on the Dollar because the Federal deficit will not be reduced Smuch As the Dollar will probably Trade Between 72 cents and in the next few the Dollar is still looking Carrot wont ease plight of jobless by Ken Smith Canadian press have you got on or expect to 500 grand to cover your life time investment if the new Federal budget has Deal for any income you get from investing those Bucks would be Clear of capita gains tax for your the intention is the Canadian ranging from manufacturing to Small businesses and de separately needs investment capital if it gets the investment and then the markets that Are the Economy can expand create that the Lon term goal of the Federal its not going to be that apart from the fact that not Many people have those kind of Bucks sitting around looking for an investment theres the for that the lifetime guarantee wont necessarily survive the next budget or government Bill which could wipe it but it still might look attractive if you happen to have some Bucks around you dont know what to do there is the further difficulty that investment could be misdirected because instead of venturing into High risk new areas where capital is needed investors would Likely put their dollars into Blu Chip that would earn them a reliable with depending on the original investment but it do much to provide the capital new firms need to expand Federal finance minister Michael Wilson noted in one of his papers presented with his budget that government has grown too it has engaged in commercial activities through its Crown Cor Many of these activities result in the provision of goods and services which could be provided More cheaply or More effectively by the private no useful purpose is served by government continuing in these act that leaves it up to the private sector to guarantee economic More employment the prospects of this happening on the so the answer is not the unemployment rate still is running at a and it has been stuck there since the end of the 198182 is the Prospect of tax free invest ment by individuals of up to half a million dollars going to ease that the Quick answer is the experts in the Field agree that it is no longer Good enough to throw dollars at the its easy to talk about but essential As these programs Are someone is going to have to answer the question of who pays the a lot of people who have studied the matter agree that a Young per son entering the Job Market today and Lucky enough to find work May face the Prospect of having to take a dozen or More compared with the one or two his Parent Ottawa up the government introduced legislation yesterday asking for authority to borrow billion for the 198586 fiscal year that began april Barbara minister of state for noted that the government needs billion for the fiscal As set out in finance minister Michael Wilsons it already has billion in borrowing authority received earlier this and now is asking for the additional billion to meet the needs set out in the plus billion beyond temporary Powers the extra billion is needed to refund Short term Loans the govern ment took out earlier this year while it was waiting for parliament to approve borrowing the delay in the passage of Bill cell the earlier borrowing author Ity Bill caused the government to run out of its 198485 borrowing authority in necessitating the use of the temporary Powers granted by Section 39 of the Finan Cial administration Mcdougall said news she said the Short term taken out to fill the mature this year so borrowing authority is required to pay them the delay Mcdougall referred to was caused by Liberal senators who resisted passing the earlier borrow ing authority saying the govern ment had not explained Why it needed All the once the governments spending estimates were tabled in the Conser native controlled commons in feb the who hold a majority of seats in the Senate and on Senate let the Bill the government was angered by the incident and now wants to change the Way borrowing authority is the chaotic and disruptive his tory of borrowing authority Bills in recent years has underlined with resounding Force the absence of an structured process for government to obtain from Parlia ment required borrowing authority before the borrowing period said a discussion paper on budget Reform that accompanied this weeks this state of affairs cannot be allowed to no country can properly and effectively plan its affairs and negotiate in the capital markets for the Best terms and conditions on Loans when its ability to carry out its obligations is shrouded by uncertainty and conf the government currently tables separate borrowing authority Bills when it needs the but does not follow a regular the paper suggests borrowing authority take the form of an appropriation act which would be included in the main spending presented each improve process an alternative approach is to have a borrowing authority Bill tabled for first Reading on budget the following debate on the budget would also cover the borrowing authority the adoption of structured procedures for borrowing authority along the lines posed Here in improve the budget process the discussion paper opposition spokesmen were not immediately available to comment on the latest borrowing Bill or changes suggested in the discussion Kcjr Price Cut Toronto up ism Canada said yesterday it is reducing the Price of the enhanced version of its discontinued Kcjr Home computer by 25 per to from Shaw industries five payable july rec Ord june Winnipeg professionals Volvo lease we lease for less 1985 Volvo dla4 4 Powe por Mil 2000 4s month Nel Mac motors Erin 5 Blocki Polo for Sale meat processing Plant High federally mod Ern Plant with Large base for More information write Box 1316 free press professional accounting practice with computer installation available for merger or shared overhead apply Box 1315 free press available executive Secretary for Short or Long term temporary assignments excellent skills 4741290 Stevenson the Tep eople Pam Walsh David Stevenson president of Ste Venson 1972 is pleased to announce that Pam a resident of the River Heights District of has joined the residential sales team of Steven son Pam is located in our River Heights Branch at 382 facade my and invites her business Neighbours and friends to Call her to have their real estate needs looked Pam can be reached at 474 1381 or at her Resi Dence for lease Multi tenant premises Church Avenue Inkster Industrial Winnipeg units to suit approximately to Grade loading facilities 14 Clear ceiling on site parking competitive rental rates for further information Contact Bruce Goldring 4756002 for lease premises 270 Hutchings Inkster Industrial Winnipeg including office space air conditioned heavy Power Large paved parking area Dock loading wit i automatic Leveller for further information Contact Bruce Goldring 4756o02 Auto insurance claims consultants for information Call 947089 credit fonder credit fancier Trust guaranteed term investments 4 3 years paid annually in Winnipeg Rue Smith 204 9425515 transportation problems we Are consultants to the transportation Industry with emphasis on Cost and service let us review your existing transportation we May be Able to 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