The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

W1itby Free Press, Wednesday. September 22, 1993, Page 13 e f . fix Ecouiomistrxsfo Nati*a at inm D:urham R' 1 idin.g By Mike KowalskI Durhamn riding's newest politi- cal candidate claims he has the solution to Canada's economic problems. Uxbridge resident Harry Pope is running for the fledgling National Partyr of Canada in the Oct. 25 federal election. A retired economics professor and author, Pope, 70, says a major overhaul of Canada's fiscal policies is needed before any government can hope to lead the country out of the recession. Ho intends to use the next four weeks driving home the message that only a drastic departure jobs;,» he said. Essentially, what P o pe wants te change is "about 300Oyea of reliance on foreign money.» "Nothingf could be better for Canada tlan that foreigners should decide te take out the billions they have loaned us," he said. 'Mhe dollar would drop drama- ticially, net exporta would soar, employment would increase sharply.» Born in Ottawa, the bilingual SEE PAGE 14 Wouldn't it be grcat if you could cut thc tice it takes to cut your grass? The POWVER MULCH, lawn mowers from Lawn-Boy fecd clippings back into the lawn as fcrtilizcr. With no clippings to bag or disposc of, you'l eut your mowing tirne by upto,40,o. Thc bcst part is, when your grass is too long to niulch, thceniowcr cèan bc adapted to dischargc from the side. SAVUE SY6 LD RENTAL A HARRY POPE from a nearly 300-year-old 'mmid set' will make a dent in Canada7s massive debt and unemployment situation. "Ms. (Prime Minster Kim) Campbell was quite right when she said there's not much chance of getting unemployment down by the turn of the century," said Pope. "Tat's quite true with their policies,"he added. As for Liberal leader Jean Chretien's pre-election campaign promise of U,000 jobs through a $3-billion public works prograxn, Pope termed it «snal potatoes out of 1.6 million unexnployed.» The key te economic recovery and full employment without in- flation, Pope contends, would be allowing t he dollar te find its own level on international money miarkets. WMen the dollar is propped up by "Bank of Canada-induced high interest rates,» Canadian producers are «doubly hurt,» hie said. Higher interest rates add to borrowing costs and the higher Canadian dollar raises teir prices both te foreigners and in relation te imports, hie explained. Due te increased costs, prices of Canadian producta fise in relation te, those of foreign pro- ducers with whom domestic manufacturera are competing, thus a deficit, Pope said. Ini order te achieve a zero capital-account balance, thereby forcing the current account inte a zero balance as well, aIl that is needed are interest rates at or below the U.S. level, hie said. Although letting the dollar find its own level would result in a drastic dro in its value in- itially, the long-terni benefits would be enormous, Pope argues. Canadian goods would be chea- per t buy t h n foreign importa, thereby creating jobs at home, he said. «It will be somewhat more expensive te travel abroad but that's a fair trade off for more Aoo UP THE SAVINOS WITH "OuLENNUX tl UP TO'-j o IN HOME COMFORT SAVINGS OR DON'T PAY UNTIL SEPTEMBER, 1994' THE OUTSTANDING LENNOX 5 YEAR PARTS WARRANTY** LOWER HEATING COSIS WITH LENNOX AWARD-WINNING EFFICIENCY! mi RAMINOR0 HEATING & AIR CONDITIONING 24 HR. SERVIGE E~~ ~j~im1jCR434-ý5541 CAU. VOUR PARTICIPATING LENNOX DEALER TODAY FOR DETAILS. ut fddmlAXikUlI 701 ROSSLAND RD. E. 965 DUNDAS ST. W. WHITBY 430-7735 ~ WHITBY 430-0022 22 STEVENSON RD. S. 110 RITCHIE AVE. OSHAWA 404-0267 AJAX 428-6322 1