~

* @epending policy

FourProblemsAre Juggle ~ By Finance. Minister Sharp

By JAMES NELSON - OTTAWA (PC)—Finance Min- pal 0 is jug@ling four in- errelated problems in prepara- tion for the new parliamentary fae opening Tuesday, Jan.

They are:

1, What“to ‘do about taxes and government spending im the fiscal -vear starting April 1.

2, What to do about tax re form over the longer term.

3. How to revise federal-prov- fncial fiscal relations next year to keep both levels of govern- ment healthy. ;

4. How far-to go in adopting recommendations of the Porter royal commission on banking and finance. :

On the key issue of tax and in the year ahead, Mr. Sharp has already said the federal government will lose some revenue through in- creased abatemeht of some tax

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am.—Musicale

0 p.m.—Film Festival

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p.m.—To Tell The Truth

p.m.—Take 30 =

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|

Mr. Jones

fields to the while

provinces, federal spending continues

its

norma! annual rr , This means Mr. Sharp may not have as much room as

would first appear in which to make significant tax cuts.

And he has the advice of the influential Economie Council of Canada that the time is not propitious for changes in tax policy. which. would increase

ing . Tax policy,

counci! said in its second annual review, should be to en- courage increased supply of goods and. services, rather than increased demand for them,

MAY BE NO DEFICIT Mr. Sharp probably will intro- duce his first budget, in: la March or early April, if norma’ practice is followed. In his bud- get last year, former_finance | minister alter Gordon pro- jected revenues of $7,350,000,000 and expenditures of $7,650,000,- 000. This would mean a deficit of $300,000,000 in the parliamen- tary accounts, but Mr. Gordon said the effect of that budget might be a modest surplus of $152,000,000 in the national ac- counts. : ; Mr. Sharp now has revised those figures on the basis of the buoyancy of gévernment rev- enues, fed by the growth of the economy. He said in a Jan. 8 h to the Canadian Club in oronte that the deficit in the arliamentary accounts might less than $100,000,000 and the surplus in the national ‘accounts as much as $330,000,000 The parliamentary accounts normally employed in present- ing: the budget include charges and payments between one de-

“Ypartment of government: and-an-

other which. are really book-

and Speaking Personally —

cec a 10:1$—HModays Editorial and

* $peaking Personally 10:30—Chamber. Music 11:00—-Concerts From Abroad

CBA RADIO THURSDAY

6:00—The Morning Show

_ 7:00—The Morning Show, Pert 1 8;15—Maritime Sporiscast 8:21—The Morning Show, Part 2 8:35—Mex Ferguson Show —

‘

.|ministry. ,

d

keeping items: The national ac- counte show only amounts paid into and out of the general eco- nomy of the country,” and thus better reflect the impact of government operations on the

economy.

The deficit ‘or surplus in the national accounts indicates the degree to, which federal budgets encourage expansion or are | anti-inflationary in their impact. The Economie Council said now is the time to let the built-in anti-inflationary forces of cur- rent taxes have\ eway. - ‘ GOODS VALUE RISES

Mr. Sharp is basing his cur- rent thinking on an expected in- crease of five per cent in. the gross national product during 1966, apart from, price in- creases, The real value of goods and services produced in 1965 is believed to have risen about six per cent from 1964, and Mr. Sharp may be too conservative

About the time the new fi- nance minister presents ‘his first budget to Parliament, the gov- ernment is expected to receive re tions from the car- fer royal commission on taxa- tion. The. commission, headed py Kenneth Carter of <Toronto, was @ppointed in the summer of 1962 to study the. distribution of the taxburden and how to improve it.

Mr. Sharp hae eaid that uni thecommission's findings have been studied and assessed, it would ‘be improper to make any drastic change in current tax

mission's findings already are being made by a special staff in the fina department s0 the work )¢ completed quickly when the format report is submitted. ~ :

Tied in with. the Carter com- mission findings’ is a study of tax structure. by provincial treasurers and fi- nance ministers and their staffs working with the f@deral finance

AGREEMENTS END 1967

Current federal-provincial, tax agreements expire in the epring of 1967. Work on evolving a new plan must begin in earnest soon, and Mr. Sharp has eaid his one ambition above all others is to cssure viable a

4.m.—Station Sign On a.m.—Canadian Sehools a.m.—Nova: Scotia School» p.m.—Friendly Giant a.m.—-Chez Helene p.m.—Butternut Square pm.—Across Canada oi p.m.—Thursday Playbill You Can't Run Away . From it vad p.m.—At Home With Helen | Crocker : 09 p.m.—To—tell ‘The Truth p.m.—Take Thirty p.m.—Bonnie Prudden p.m.—Razzie Dazzle p.m.—Atom Ant p.mn.—Musie H6p p.m. supner Club pr =TV¥- News p.m.—TV Weather p.m.—TV Sports p.m:—Supper- Club. p.m.—Thursday Nig Movies Saint Joan p.m--Seaway p.m.—! Dream of Jeannie 10.30 p.m.—Telescope 11.00 p.m.—Peyton Place 11 11:30 p.m.—Honey West 12.00 a.m.—-CBC National News 12.15 a.m.—Viewpoint “92:20 aim:stionebfetevision-News 12.30 a.m.—Station Sign Off

7.00 ht at the

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crcy Rape THURSDAY

& 6.30—News and Weather 6.35—Merning: Roundup _

~6.45—Island- wr. and Ma 6 46—Morning Reundup 6 55—News and Weather 7.00—Hebrew Christian Hour 7.15—Morning Roundup 7.30—News and Weather 7,35—Farm Report 7.35—Farm, Report 7.4\—Merning Roundup 7.45—Island Wr. and Mar. Temp. 7.46—Sports Capsule and Score-

board

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ft. Temp:

4

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=$

12:15—That MecKinnon Gil 12:30—Maritime Farm Broadcast . 1,00—CBC News and Weathe 1:15—Gordie Tapp Show 1:45—Time Out For Melody 1:59-D.0. Time. Signal 2:00—Time Out.For.Melody ..

-+.-9:15—Atlantic School’ B’cast

“Old Favorites’ Atlantic Schéo! Bcast oa tAdventures-in-Seng”—- 3:00—CBC News 3:03—Trans-Canetia Matinee 3;30—Trans-Canada Matinee 4:00—CBC News 4:;03—Canadian Roundup 4;10—Musie In The Air 4:15—Music In The Air 4:30—Assignment 4:35=Musié In The Air 5:00—Mar. Fish Broadcast 5:20—Tempo een 5:35—Assignment - 5:45—Tempo and 6:00—CBC News 6:15—On Parliament Hill 6:20—Teday's Editorial 6:25—Inland Weather and Sports Scores 6:30—Business Barometet 6:45=Who Will Come With Me 6:50—Red and Charles 7:05—Music 1 The Evening 7:30—Soundings 8:00—CBC Talent Festival 8:30—Music Diary; ~ 9:00—Symphony Hall Toronto Sym. phony Orch. 10:00—CBG National News’ 10:15—Today’s Editorial and Speaking Personally 10:30—Chamber Music 11:00--Ukranian Christmas Eve Service

2:30—

Notebook

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"10 40—Mr. Co-op’ Program 10.50—Notes and Musie

10.55Lucky 7 Contest

11.06—-News and Weather 1 11.05—News and Views on

, Groceries

11.20—Notes and Musie 11.45=Bulletin Board 11.50—Notes and Musie 11.55—Atlantic News Roundup 12.00—Weather : 12.05=Town and Country Time. 12.30—News ahd Weather

12.45—Town and Country Time

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(Conrad)

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\

”

Lo eee

| 12:00—CBC News

142:03—$perts Scores, Inland and | Marine Weather - | 12:15—Mutie In The Night

jimportant

_law governing operations of the hartered

CONTRACT BRIDGE

By B. JAY BECKER

future. - One difficulty te that Mr. | Sharp does not al spending being cut in relation. to the gross national product, while provincial and municipal. tax revenue needs are likely to go on growing.

Already more than half of alt government spending in Canada is done by the provincial’ gov-. ernments, thus making them an factor in - econontic planning over which Ottawa has little. direct control.

But perhaps the longest and lmost technical: work of the new pavliamentary session will be on the tevision of the bank act which “flow” is two~ yeafs -over- due._The bank act is the basic

c banks and normally is revised every 10 years to keep it up to date with banking trends.

Mr. Gordon introduced 4 te vision last May which adopted only a few recommendations of the royal commission on bank- ing and finance headed by Chief Justice Dana Porter of Ontario. Mr. Sh

Porter commission's tecommen- dations for removal of the ceil- ing of six per cent on interest that may be charged on loans by the chartered banks. Mr. Sharp now is reported likely to raise of abolish the ceiling as PLAN UNDERSEA CABLE. TOKYO (Reuters)—Japan is planning a submerged-cabie link to connect Southeast Asian | countries atid improve ‘elecom-| munications networks if they area, the Japanese postal serv- ice ministry said Tuesday. The 6.300-mile cable to be laid in the next Tew years, will link Japan with Formosa, Hong Kong, _-the-... Philippines Viet Nam, ja, Thailand, Malaysia Singapore and Indo- ‘nesia,_the ministry \added.

South dealer, : East-West vulnérable:

_ NORTH . @KS a

74 AKQ106¢ 852 mAST $4 10854 10 97

Ai

WEST 43873 @AQIOS5S3 O85 454 J2 Sikes Sak AKQI7. % The bidding: Soutn Weet North Bast

~!

1 Pass 1 Pase

[Se

Opening wlead — queen of hearts. os

You never khow hoW much dynamite there is if. a hand

whet you pick up your ¢ards, sort them 6lit, and é@tart to bid

For example, look at _ this prosaic deal played ih 4 téath of four in Atlad- tic City many years ago. I had the North hand @id my pattner was thé laté aid great Sidney Silodor of Philadelphiu. :

Nothing spectacular happened at out tablé whét we the hand. Silodor becathe later at thréé Hétruffip on thé bidding

of hearts. ‘Silodor took the queen ™\ “with

‘ y ‘

[to the. next deal

shown and West led thé queen |

the king, cashed the obviotts six diamond tricks and five clubs, and the result was that

f a

without giving the hand much further thought. to |

played by out taam*mates, | who of course now held the East- West cards, the outcome was

very, véry different. | At thid tablé, alsd, South be. cate declarer at three notrump’

Sobel, playing with , Was West and

lead instéad. She realized _ that a héatt lead would probably cost her sid@ @ trick and she Sta al tomes: te’ open the t of epades. This inspired lead had astonishing effect upoon the play of the hand. Goten enjoyéd the lead very much and began by cashing eix spade tricks in 4 row. He then followed this up

permitting Mrs. Sobel to dupli-. cate Goren’s success by cashing six hearts ina fow. .

As a result, @¥é@h though the contract at both tables was three

team had ex: twelve tricks and

ical means of collection and a

laws. Some etudiés of the com-|—

has said changes ng t —Tbeing- made in-the-Gordon:d raft. Mr. Gordon rejected the

South >=

by leading thé ten of hearts, |

notrump paved by | South, our |

The Guardian, Charlottetown, Thurs. Jan. 13, 1966. 19

+

OTTAWA (CP) —-A major campaign to promote the idea of government. automobile in- surance will be mounted next month by the’ Canadian Labor

year’s Citizenship Month ob- servance by the 1,200,000-mem- ber labor body. Last —year's topic was medicare.

Mr. Jodoin said in a~ etate- ment that the mounting toll of deaths, injuries and damage on Canadian highways has become a problem of major © national importance.

The CLC proposes that the provinces establish commissions to collect and administer auto insurance finds and deal with accident claims. i

licensed automobiles and col- lected at the time licence plates are purchased,” Mr. Jodoin said. ‘This provides an econom-

ett

Luié! SCEVOLA

BECAME PROFESSOR

AT THE AGE OF

tional

CLC Has Plans To Campaign For Gov't Vehicle Insurance |

genvented teat all automo are cove’ by liability . ance." ™ inoue | Saskatchewan now

fi

Consrons, ane core Claude Jo-|Plan in the country, § afnouncéd x , It. will be the theme for this |"stme wenesicd ty vase’

private insurance rates and the continual complaints of private insurance companies that they are @uffering heavy losses is |‘ clear indication that they are unable to cope with the situation and meet the national need,’ Mr. Jodoin said. * : “The . protection provided by ithe proposed public plan could be supplemented through addi- miums in lic privaté plans should the melebe E = Basically, the prinel- Pp “The necessary funds could | adopted be. an assessment levied on all jcare.’~

is not

ly provinéyal auto insurance |

with regard to hospital |

The Februdry cam be conducted chiefly by; cial labor federations; local la- bor. councils and CLC-affiliated unions,

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