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Seen ands harp said the govern- ill still have to borrow ext year, though he » cut down the total de- om this year. narp said sales of Can- rings bonds this year ll, despite the difficulty 2 them at a time of ex- lly high interest rates, not, however, indicate iy were sold. ne EO OE ING YOUR E ? EN LIST WITH RAL ONT. TRUST 723-5221 WE CHARGE NLY 4% sc ailalanialiiiniiiamiatenaiaininaiats 'AWA (CP) -- The govern- nt plans discussions with or and management on a vol- program to restrain e and price increases, Fi- ce Minister Sharp told the rsday night. ssailing what he termed early inflationary" wage de- nds and cost increases, he id there will be a determined Impaign to slow them down. though Mr. Sharp did not e the phrase, officials said he delines developed by volun- , co-operative action. To the extent that we can pbilize public opinion effective in support of this objective, d against the actions of those o clearly exploit their market bwer to obtain inflationary in- ases, then we can have a gher level of employment, oduction and incomes along} s referring to some sort of) abor, Management alks Planned: Sharp and to impose the taxes neces- of them." He said the government will "initiate discussions with lead- ers of labor, of management and other main elements of the economy, as to the manner in| which we could most effectively organize this program of re- straint." | HITS WAGE DEMANDS the increase both in wages and| prices, the minister's speech hit particularly hard at the wage demands of organized labo, charging that big wage settle- ments in Canada are running at an average rate double that in! |the United States. have done our part here in Par-|tal and labor markets. Every- liament to restrain our spending| one was after more and more. Income Tax Anniversary ith price stability," he said. By FRASER MacDOUGALL OTTAWA (CP) -- "Excise, a hateful tax upon commodi- "In the labor market this psy-| ties... .' Sary to finance, in a non-infla-| chology is leading to continued tionary way, the expenditures|demands for wage : which we in this House have|that are clearly far in excess of| ure, writing a couple of centu- mmons in his budget speech|judged to deserve the priority| any prospective increas' in pro-| ries ago. that is implied in our approval] ductivity, and therefore clearly inflationary," Mr. Sharp said. "Increases in major wage set- tlements negotiated in Canada over the first nine months of jthis year are reported by the department of labor to have av- eraged 8.7 per cent a year over the life of the agreements, "A roughly comparable aver- . age for the United States is 4.4) facture under the Excise Act Although he Was critical of| per cent a year." That was Samuel Johnson, increases} the great English literary fig- His sentiments about excise may be shared today by Ca- nadians who like a drink or a smoke as they ruefully con- template the 10-per-cent in- creases in liquor and tobacco taxes announced Thursday by Finance Minister Sharp. There are two forms of ex- cise in Canada, one levied only on goods of home manu- and the other on home-manu- factured and imported goods under the Excise Tax Act. Mr. Sharp used both acts, along with the customs tariff, to implement his tax boosts, effective today. Some dictionaries give the general meaning of excise as LIQUOR, TOBACCO TAXES INCREASE 10 PER CENT This has led to an impres- sion in some quarters that the word excise does not apply to imported goods. But it does in Canada under the Excise Tax Act, no matter where the commodities are from, right in -- with Samuel Johnson's lam GOES WAY BACK As long ago as 1215, when the Magna Carta was signed, people thought in terms of ex- cise. That historic document contained a reference to pay- ment of evil or unjust tolls on goods entering or leaving the country. During the middle ages, the favorite targets for excise tax- ation were goods exchange in inter-regional or international trade. Canada has levied duties under the Excise Act since Confederation on goods of domestic manufacture. The duty is levied on the commod- ities while in possession of the Crown and they remain in its Averett high enough to compensate for the excise duty rate on home goods, with something more added for protective! purposes. TOOK TWO STEPS Thus when Mr. Sharp pro- posed his liquor-tax increase Thursday night he took two steps. First, he tabled a resolution providing for an amendment to the Excise Act to increase the duty on Canadian-made spirits, brandy, malt liquor and beer. Then he tabled another res- olution to amend the customs tariff so he could extend the heavy hand of added taxes to imported spirits and beer. The increased taxes on to- bacco and wine were imposed under the Excise Tax Act, which had its beginning in the Special War Revenue Act of 1915, during 'the First World War. It applies to home and imported goods. From small beginnings, this Carter Report Rejected, Too Radical For Canada THE OSHAWA TIMES, Friday, December 1, 1967 9 --Many people believe that the Carter system would not } generate enough savings and at- OTTAWA (CP) -- Canada will|difficulties and technical prob-|tract enough foreign capital te not get a Carter tax system. The radical reforms of the) Carter royal commission on tax- \lems, particularly in respect to| provide for economic growth capital movements. land development. ations are just too much for the) country, Finance Ministe al |Sharp said Thursday night in his budget speech. He turned his back on Carter| recommendations as the basis) for forthcoming tax reforms, announcing that the government | will choose instead to make Canada's existing system fairer. | NDP financial critic Colin) Cameron immediately said the) "throwing of the Carter tax re- port down the drain" was the) most important feature of the budget. ; The finance minister nev- ertheless ascribed 'great value" fo the work of the $3,- 500,000 royal commission 'in| helping us all to recognize the deficiencies in our present tax! system and to devise sensible) ways to reform the system." It was news to warm the hearts of thousands of Canadian KINGSVIEW UNITED CHURCH businessmen, who through their) a TURN TRAGEDY INTO TRIUMPH BUILDING FUND "The government is planning) He said an "inflation psycholo-| OTTAWA (CP) -- Finance| any toll or tax, They add a associations have implored the organize a temporary pro-|gy" has been having serious af-|Minister Sharp Thursday night| specific meaning as a duty possession until paid. measure has spread to cover f ind Tavern aim of this kind--after we fects this year on both the capi- marked the 50th anniversary of| charged on home goods either The government gets at im- a wide spectrum of commodi- | £overnment to reject the Carter hy the start of personal income| in the process of their manu- ported goods of the type affect- ties since it is the law under uM Sh at tata of ee $ our e p al taxes in Canada by tacking on a| facture or before their sale to ed by the Excise Act. under - which the federal sales tax is r Sharp said four points o ning axes In Cana y tacking ; 4 public discussion on the report 5 URCHARGE TABLE SHOWS special five-per-cent surcharge| the home consumer. the customs tariff. It is set levied. Fave weigher beavily in eovert: é Room n for five out of six taxpayers. | De eer nieut thinking: Friends Wishing to Make >, Ce] Effective next Jan: 1, the sizf-| Se@eeeEE EER Ne NINE CANN Pee --The effect of the recommen- : : fh Whitby, ] FFECT ON AVERAGE MAN tax will not affect low-income F dations on the economy and| Contributions Should Send ccommodating 300. itmwe sition! wean Sha Tax Incre e Hits oe ee = pth apt ot eed taxpayers is difficult to/ Their Gifts to: re ca oat OTTAWA (CP) a oe aie 3,850 177 of $600. as rations in 1966 to cool down the! --The Carter tax system + Mee AO mer crm nae orem SME Ee Sharyn ns Bd , ' "cine mt ail ities ort ~~ KINGSVIEW mas Party -- Call ance Minister Sharp's five-|50,000 21,185 600 (Speech that the new tax will re- Canadian 0 orations corporations about $230,000, 000|countries, creating economic r-cent surtax on personal in- Married main in force "until we have by June, 1970, under the terms! ' ome tax. No di re pleted the transition to a of the special tax. U N ITED CH U RCH In each table, columns of fig-|Income ..Present Proposed|slower rate of growth of expen- "na cee aa ar ae -- Bs & ana 14 she triad Under the proposed new ALE. JOHNSON, 0.D. mo ue ihoome Iss 000 ae sis shig ditures or until economic and fi-\from Canadian corporatior® at} The changes in the timing will airatiies pe i g potion at OPTOMETRIST BUILDING FUND Second present combined fed- 3'500 202 3 nancial conditions call for &/a faster rate--partly rg ~ hap hl tha se gy a Mg first instalment of their estimat-| 141/ King St. East c/o MRS. P. A. TRESISE val aod provintlal tax, Inetnacl <6 209 7 change in our fiscal policy." peo paying them back wha' Hongo sinout adding ed bill in the third month of the| 23-272 577 GRIERSON ST. OSHAWA ing old age security tax, in all] 4,500 394 i He predicted that, the surtax|° P y 7 8) tax year. They now start pay- 723-2721 Secanen except Quebec, Mani-| 5.000 499 15 |will increase government reve- Finance Minister Sharp said/to the costs of production or dis-| -enis in the fifth month. | loba and Saskatchewan. The| 7,000 984 35 |nues by $185,000,000 in the fiscal| Thursday night in his budgt|tritution. an the neal -- -- nen axpayer is assumed to be tak-|10,000 1,764 72 \|year starting April 1. It will ged hange in the existing/needs extra cash next year, he g the optional standard deduc-|15,000 3,450 |e er sede a idl ag the|ievel of earpenitiad taxes, there|added, is that it will start next ion of $100 for medical ex-|20,000 5,595 264 current fiscal year. penses and charitable dona-|25,000 7,845 376 Low-income persons will be) ; | ions. 50,000 20,635 600 |exempted from the new tax in} Third, proposed surtax: Married two ways. VOLKSWAGEN Single Two children First, the surcharge will No dependents Income ..Present Proposed|?PP!Y only to an Individual's| AUTHORIZED SALES AND SERVICE ncome ..Present Proposed) tax surtax | basic tax in excess of $100. 4a tax . surtax | $3,500 102 -- |condly, it will not apply to sin-| PIC KERING CAR CENTRE | | 2,500 a $3 ete 4 ; gle persons with incomes of aed On Baseline 4 Mile Eost of Harwood. Ajax, Ont. | . J than $2,000 annually, nor to a} 4 a hee Ft te 10 | married man with two children| CUD Fores * 3,500 394 11 7,000 828 29 4,000 499 15 |10,000 1,608 64 jearning less than $3,600. AMERICAN. US Be CARs 4,500 612 20=--«(| 15,000 3,210 145 The increase for a married 1 .M. 5,000 727 25 |20,000 5/325 250 |man with two children making oe ** 7,000 1,244 46 |25,000 7,875 363 |$100 a week will be 28 cents a TELEPHONE 942-1881 10,000 2,060 87 50,000 20,305 600 week, Mr. Sharp said. Grey Cup Specials! 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