7 PER CENT

(Continued from ‘page 1)

per cent in real output and two per_cent_in_prices._Prices have

NOW!

Enjoy The Alls New Peerless Beverages

- remained vetettvety t2- ble climbinc ahonut e per cen’ a ‘ear

The fact the GNP last year outpaced his original forecast of a 5*2-per-cent cain contributed to larger-than-expected federal revenues and cut the budgetary _deficit. .te $83.000.000 from _ the $455.900.000 deficit he estimated in bit March 16, 194. budget speech

At the outset of his third budget‘ speerh since hecoming finance minister on ‘formation of the Pearson Liberal govern- ment April 22. 1963, Mr. Gordon said the robust expansion of. the last two years. must be contin- ued WANTS HEAL THY KATE

“With thp budcet under con-

“trol, we must use our fiscal pol-

icies to .acbieve the nation’s |goals' The primary objective jnow is a healthy rate of sus-

} tained economic growth.” All parts of the country. and‘ almost all types of jpdustry and agriculture were Sharing in the health of the economy.. New | productive capacity was being arided. and “‘we have the most | rapidly growing _labor force in,

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Ww MEN SUF Bupoee oe

ez 21 twice aS many women == “ e omaha miserahie by common urinary irritation caused by a germ, Escherichia Coli. To quickly combat the secondary agchesymusc a Pains and disturbed sicep and Bladder irritations, e CYSTEX tablets with 3 times daily for a few Gays. CYSTEX is a cleaning urinary antiq-

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Rheumatism. Sciatica Pains, Backache. and muscular pains. Geg GXeTEX tiem crusssi Feei ceiter Latte

4

14 The Sentad Charlottetown, Tues., Apr. 27, 1965. time f= tax tews. pendieg re-!

A =

y the industrialized world. and Hs is better trai ned than ever be- fore.”

But he wafhed rapidiv-rising production could lead to large deficits” in international pay- ments and said “‘these must be avoided.”

“In order te ‘provide jobs to match the quite exceptional growth of our labor force we will need hizh levels of capital investment. in the next few years. hither than the present physical capacity of the econo omy can be expected to meet.”

He did not anticipate diffi- culty in finding foreign capital

: but said Canada cannot depend

om foreign savings indefinitely The major source, the United States, was restricting its in- vestments abroad

“We would be foolhardy if we assumed over the Jong term the

“capital needed to cover. our con-

tihving current account deficits, whatever. their size. would: al- ways he ours for the..asking.”” WILL BARGAIN HARD

Mr. Gordon said the Kennedy Round of international tariff ne- gotiations in Geneva is not yet in full swing so far as Canada

‘IS cConcerned..as~ an. important

exporter of agricultural prod- ucts. The Canadian nezotiating team would bargain vigorously for a general reduction in trade barriers.

Britain wat worried about her trade deficit with Canada. just as Canada was worried about this country’s -trade imbalance with the United States.

“It would be better in both ERG cases” -if increased exports en- abled these large bilateral def- icits to be reduced.

Britain's sales to Canada

were up ,in 1964, with a 100-per- cent increase in automobile ex- ports to this country... /

“Here is a real example of energetic BYitish exports adapt--

dealer and service organiza ions to meet the needs of Ca madian consumers.” Mr. Gor- don sard see further substantial improve- ment. in the sale of British products in the Canadian miar- ket”

MUST. WORK CLOSELY

On domestic affairs. Mr. Gor- don said>the federal sgovern- ment’s responsibility «in fiscal monetary primary and indisputable.” but federal, provincial and munici- pal governments must work closely together to achieve the country’s potential.

The provinces.and municipal ities together mow spend more than the federal government, and their activities could greatly affect the national econ- omy.

Current ~federal-provincial ar- rangements would’ come up for another five-year renewal in 1967 and the formula must be reviewed and revised in the next 18 months.

“We shall endeavor te find a division of the tax fields and a formula for equalizing fiscal capacity which will assure to

“Parliament and to each ‘provin--

cial legislature effective means of carrying out its own respon sibilities under the constitu- tion.”

The reyal commission on tax- ation headed by ig Aa ac- countant Kenneth LeM. appointed in peice “96%, | was expected to report in time for a review of the federal tax structure in this budget. But Mr. Gordon said the report now will. not he available be- fore, autumn and a thorough re- view of federal tax law has been deferred AWAITED REPORT

‘In his budget speech last

‘year. Mr. Gordon said it would

be premature and ‘unwise to

“We expect. ndw to-

and trade policy my toy

ceipt of the Carter repert.!

Mr. Gorden reviewed m creases made by his... govers-: ment and the. former Conserv- ative administration’ in grants to the universities and to ah Provinces in aid of education,

“It is evident, héwever, that ™more needs to be done in fi- mancing higher education im Canada. theugh just what should be done and in what way are unresolved (pections,” we sad

/

Whél a repoft was recetved from a university commission headed by Dean Vincent Bladen of the University’ of Torente economics faculty, the federal government would discuss the

subject of university . finance with the previnces.

Mr. Gordon started his speech with a glowing account of gov- ernment performance in achiev- ing its economic objectives. Al- most 500.000 new jobs had been created since the spring of 1963, and unemployment last month was 39 per cent of the labor force, compared with 7.7 per cent in the first quarter of 1961.

“We may view our prospects for the coming year with confi- dence.”

Federal Gov't

Employees In _ Province Down

CAPITAL BUREAU OF THE GUARDIAN ° OTTAWA — Provincial zov- ernment employment in Prince Edward Island decreased at end of 1964 as compared to;

year earlier, the Dominion Bur- -

eau of Statistics reports in its weeps summary.

reflecting higher wages a Sebebed the gross payrotl of provincial employees im Sane island province showed © an in-

teeir immoke major _chonges | ot _tat | creams,

ing their products . and

“No wonder you see so many Leadstars”

Shovel operators see trucks working under the most pumishing conditions. Rough ground. Massive loads. Tight schedules. They'll tell you that an amazing number of these trucks are International Loadstars. . Why? Because they're built to stand up to this kind of punishment. Loadstars will stand up best on your job, too—whatever it may be. And they'll save time on every trip because they're the most maneu- verable truck in their class. How about va/ue? Listen to this. New axle ratitgs for the 1700 Loadstar

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~

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LIMITED

~ Sunny Isle Farms Ltd.

Grafton St.

Charlottetown

East

Buell & MacLeod Summerside, P.E.I.

Wellington Sales & Service Wellington, P.E.1.

’

AS December #. 1984, there were 1658 P EI previecial em- —. a substantia! drop trom — at the end oi

the end of Sepiem»er were 1.380 em

payroll for the last a totalled $1.479.-

hat above the $1.28

lor the final quarier yo gross “roviz- zovernmen: payroll for all of 1964 was $5,338,000

The 1,658 employees at vear end included 1.584 in deparimen- services, & in provincial and 10

total. 1.361 were salary earners and 297 were wage earners ~ A breakdown of the s2lary

158 in transporia- tion and communications, 348 in

health and social welfare. 8. ims

somasinils +

reeréation and cultura! ectivit- res. 24 m education, &3.in na tura: resources and primacy in dustries, 8 in trade and indus- inal development, 2 in local government planning and. de- velopment and 5 im other cate- gories

sand costs oe five davs for pro-| CANADIAN. FILMS TOUR

?

ceeding throuzh _— — The National Fikn Board of f nad. s Chief Bo se Canada is showing a group of

Six recent issues at various sited) police are cracking down on ail tres throughout the Usite traffic offences. ’ States

—

Two Month Term

Given On Forgery)

SUMMERSIDE — Norman Gallant of no fixed address, ©

NOW! get it.

charged with uttering a forged | document (a Royal Bank of Can- |

ada cheque ‘made out to $40) was sentenced to two months in

Prince . County jail by Magis- trate R.-S. Hinton, QC, in town

* police court Monday morning.

The offence was committed be- | tween June 2-5 of 1964.

Two people were each fined $20 and costs or five days when they appeared on drunk charges.

4. town resident was fined $106

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