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Thie CanadIe Champion, Tueday, Decm*e Z 1997 -17 Canada poised to reap benefits: expert Group looks out for By STEVE LeBLANC Special to The Champion Canada ails on the threshold of a finan- cially robust new yoar, according 10 a lead- ing economist. Doug Porter, vice-president of Nesbitt Burns, predicts the unemploymenî rate will dip beîow eight per cent and the Canadian dollar will rise 10 74 or 75 cenls U.s. "Tie average person on tbe street finally belioves the economy is picking up. Consumer confidence is ait ils highest level since 1988 and it's translating mbt sales," said Mr. Porter, one of four guest speakers for the Milton Rotar-y Club's Forecast '98 rocontly at Muddy Duck Restaurant. This optimistic appraisal, hie told a group of 50 Rotarians and guesta, is due in large part toi succesaful deficit reduction by the federal govemmont. While next year's Quebec provincial election may cause a tomporary dip in eco- nomic grnwth, Mr. Porter stressed that a balanced budget will go a long way towards keeping Canada stationed near the top of the G7 nations when il cornes 10 economic expansion. He said Canada bas benefited from the recont U.S. boom and that additional mar- kets will soon open up for boîh North American countries. "We still have 10 look ai the U.S. for a bit of a lead, but in the past five years Canada has gone from lîterally being a basket case like Italy bo jumping ahead of many indusîrialized nations that havon't exactly been standing still," oxplained Mr. Porter. Economic growth "In addition 10 our unemployment rate falling and dollar gaining strength, I expect labour income rates 10 risc and overall eco- nomic growth toi increase by four per cent next year." During an in-depth yet somewhat lame debate, the evening's next two speakers discussed the merils - or lack of same- surrounding demographic analysis. "Economiats; deal wiîh short terni change but demographers look at the long terni," suggested Tom McCormnack, demographer Doug Porter and contrnhutor 10 the bout selling book "Boom, BusI and Echo. Ho explained that tbere's a direct corre- lation betweon Canada's aging population and the rise and faîl of specific markets - sucb as daycare and oyeglass manufactur- ing. "Baby boomers (3110o 55-year-olds) make up eight million people in Canada. You don't have 10 ho a mocket scientist 10 figure out Ibis represents a significant per- centage of our population," hoe said. Canada, hoe added, bas stopped recreat- ing itself (witb deathu about 10 outnumber birtbs) and will look 10 aggreesive immi- gration for suslained growtb. "This again will belp determine Canada'e economy. Twenty years ago moal of our immigrants came from Europe but loday lhey're coming from Asie," explained Mr. McCormack. "Anyone who thinku they can ignore demographics is making a major mistake." Royal Bank of Canada economiet Derek Hoît, however, described the recent demo- graphicu craze as narrow-minded reason- ing - adding there are countless factors that decide the path of a counlly's econo- My. Using household savings as an example, hoe said that people maintain nest-eggs as much for precaution and independence as --r'.a-&1 acomplote line of comnpetively priiced tres avaflaible AU Aire, purchasels include Installation, Dalancing and New Valve Stem. flhey (Io because of life-cycle trends. He also stresscd that Canada is flot mov- ing into a savings mode, as demographics suggest. A steady improvement in the housing market, he explainod, has less to do with the country's aging population and more to do with a newly adopted willingness to take on debt. "People were scarod to take on debt in previous eras due to inflation or job inse- curity. That's flot the case today," remarked Mr. Hoît. "Demographics has its place, but it's just one tool, and a nisty tool ait tho bottom of the tool box ait that."1 Bright light for Milton Echoing Mr. Portor's optimism for Canada's economy, municipal Councillor Wally Hunter sees a bright future ahead for Milton as well. He said a fairly young, bighly educated Milton population, plus its prime Greater Toronto Area (GTA) location - within 200 kilometres of nine million people- bodes well for the local economy. 'he host of Cable 14's "Money Week" said Ihat with impending water and waste- water services, Miltonians can expect building of 4,000 new housing units with- in two years. Ho estimates Milton's population will almost triple, to 85,000, by the year 2011. "With ils prime location and ample park land, Milton will be a very attractive com- munity in which to live and work. 'We stand to be a major benefactor of the GTA's economic growth," said Mr. Huntor. TO0W N 0 F HALTON HILLS Warkiug Together Working fer Yosl EMPLOYMENT OPPORTUNI1TY THE CORPORATION 0F THE TOWN 0F HALTON HILLS REQUIRES TWO TEMPORARVISEASONAL LABOURERS The Engineering & Public Works Depariment invites applications ftem qualitied individuals for the position et temperary/seasnnal labourer in the Public Wnrks Operatinns, Qualifications *A valet "D" licence wîth 'Zesninrement, Grade 12 dîpîsma or eqeinateet eepenence. *Demesstrated abîlîty te sperate a ne man ssew plow, both tandem and single asie trucks wîth resersîbte ptew and wing attachment, sander wîth tws wap box, and other Publie Wsrhs daties as assignad, *Candidates must be abte te pertoirs oatdoor actisitias dadeng isclement weather, ha willing te worh un oft heurs including waahandu. Hourly Rate $t3.34 Rasurnes slnould ha submittani t tae undersignad no lter than 16.,30 houris <4:30 p.rn.) Frlday, December 12,1997 to: Marc Cohen, Personnel, Officer c/o Mrs. K. Levane, Clerlke Departmenl' Parsonai information is collected under the authotity ot tae Municipal Act, RSO 1990, -Chapter 45 and utH be usad ta setect a candidata. Questions regarding tha colleciont should ha direcei lu tae Personne Oflicer. AUl those who apply for tae positions are tanlted fur tewr internat but ortly tse chosen tor interMlew in ha contactied. l'O. Box 1281, 1 Haîron Hilîs D)r., Haîron Hilîs (Gur.,ON 1,7C; 5(;2 'l'ci.: 90)5-873-26X) lor:416-7916-4730 Fax: 9Q5-873.-23Ç, the region's poor The Halton Anti-Poverty Coalition is looking 10 boîster ils membership. The volunteer self-help organization invites Halton residents witb an intoreut in poverty issues 10 hecome new members as well as those that have been away t0 re-join their ranka. Those interested are asked 10 caîl Lynne Calderbank ai (905) 632-1975 for more information. 878-6680 Our ettw tnu oon! JE 5'arentlChild Resource Contre's SActai Citizons' Baud Hall 85 Wallace Stroot ][]Saturday Docembor 6 9 a'.m. 10:30 a.m. Slttiugs Pancakes e Sausages * Coffee a Juioe! Cot your chllds photo wlth Sauta for mli $2.111 AdmlL- $5.0 Chl'o:$2.50 Cali 853-016 fer lnftIu à icef b M th. ,à