Federal budget is a sensible document

Web Lead

To the Editor:

(Open letter to Prime Minister Justin Trudeau)

I wish to congratulate you on your recently tabled budget, A sensible document for the times. You have made a credible start in addressing the shameful living conditions of so many of First Nations peoples.

Not so much for another of our shames, child poverty, but something in a somewhat round about way.

The tax cuts for the higher edge of middle class earners is a bit of flim-flam and probably not necessary.

There are other aspects of the budget I find positive, but won’t enumerate them all.

I am sure you are concerned that the deficit is quite a bit larger than initially projected, and it is that aspect of the  budget I wish to help you with.

You are far too young to have known that in  1938 the federal government had legislation in place for exactly this sort of contingency. The Bank of Canada was able to provide essentially interest free loans available to not only the Federal government, but these loans could also be available to provinces and municipalities. These loans were made use of to get out of the Great Depression and to finance Canada’s contribution to the world War ll effort. Continuing through the 60’s these loans made it possible to establish the post war prosperity and Canada’s greatly admired Social Safety net.

In the mid ’70s the wheels fell off the wagon, and first Bank of Canada rates were raised, and finally government loans were made from private banks instead of from the Bank of Canada.

What may be a surprise to you is that the regulations permitting interest  free Bank of Canada loans are still in place. I appreciate that interest rates from the private banks are low at this time, however even these low rates will add a substantial sum that could instead be used to provide more financing for green energy or whatever.

Please do the sensible thing and re-implement  tax free loans from the Bank of Canada.

For those of you who may be interested in more detail regarding this information, check out www.comer.org/projects/index.htm.

Bob Ewashen

Creston

 

 

Just Posted

Changes in 2018 for Fields Forward

Staffing changes in the Fields Forward team

Alberta trade ban shouldn’t harm Creston Valley wineries

The recent decision by Alberta Premier Rachel Notley to ban the import… Continue reading

Town to consider tax breaks for affordable housing

Town Council will explore the possibility of adding new affordable housing to its Revitalization Tax Exemption Program.

Speeders and car thieves, and drunks, oh my!

It was an unusually slow, though not uneventful, week for the RCMP,… Continue reading

HomeLinks parents vow to remove kids if CEC is closed

“Close the Creston Education Centre and we’re out of here.”

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

VIDEO: Protesters rally for affordable housing ahead of B.C. budget

Residents call on province to keep locals housed

#Metoo movement causing confusion in many men, fear of missteps with women: experts

Being painted by the same sweeping brush as those alleged to have mistreated women has angered men

Liberals to dig deeper, aim higher on gender equality in 2018 federal budget

Finance Minister Bill Morneau said the budget would include measures to boost women in the workforce

Body of missing skier found

Man’s truck found in Revelstoke Mountain Resort’s parking lot covered in ‘several days’ snow’

B.C. VIEWS: Subsidy supercluster settles in B.C.

Ottawa, Victoria add to their overlapping ‘innovation’ budgets

OLYMPIC ROUNDUP: Canada’s first ever men’s ski slopestyle medal

Men’s hockey team beats South Korea and women’s curling reverses losing streak

Canada’s Beaulieu-Marchand wins bronze in Olympic slopestyle

The skier from Quebec City scored 92.40 on his second run

Most Read