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Home My WebLink AboutThe Citizen, 1986-11-19, Page 8PAGE 8. THE CITIZEN, WEDNESDAY, NOVEMBER 19, 1986. Wilson promises fairness in tax reform Tax reform in Canada will shift more of the tax burden from personal income taxes to other forms of taxation, Michael Wilson, federal finance minister told an audience made up mostly of businessmen Friday in Goderich. Mr. Wilson made a hurried visit to the Huron-Bruce riding includ ing a luncheon with businessmen in Goderich and a visit to the Bruce Energy Centre. Speaking to the invited guests at the luncheon, Mr. Wilson said that government income from personal income tax as a per cent of overall revenue has reached too high a level. By reforming the tax system so that more of the money comes from forms of taxation other than personal incomes, he said, it would leave more money in the pockets of consumers to spend it where they want, not where government wants it spent. He told the businessmen that although 600,000 jobs have been created since his government took office, he would not take credit because it belonged to the private sector which had created those jobs. What he would take credit for, he said, was changing policies that had been “sapping” the energy of the private sector to create jobs. The government must continue to battle the deficit, he said, and claimed that last year was the first year since World War II that government expenditure on pro grams did not grow in “real” terms (with the inflationary factor taken out). Tax reform would help the job of planning for the government, he said, because the tax system has so many loopholes at present that government income is so volatile, depending on how many people in a given year make use of tax concessions. He promised fairness would be the goal of tax reform, so that people with the same level of income would pay the same amount of taxes. While Mr. Wilson promised to remove the burden of government revenue raised from income tax, he made no mention of the controversial Business Transfer Tax which is expected to raise much of the extra income needed and none of the businessmen present asked questions about it in the question and answer period that followed. In the question and answer period Elmer Bell of Exeter, long-time Conservative, told Mr. Wilson the government wasn’t taking enough credit for the changes in the capital gains tax system which makes it easier to transfer farms from one generation to another. This is particularly important in this part of the country he said, and asked if the changes were secure in light of opposition party claims that the changes would be short-lived. “We’ve made it quite clear we’re pleased with it and it will stay,” Mr. Wilson promised, though he said that in tax reform everything is “on the table”. Ross Proctor of Belgrave asked when property rights would be entrenched in the constitution. Mr. Wilson said it was a matter that is under provincial jurisdiction and so the provinces would have to agree before an amendment could be passed. After the brief stop, with some members of the audience still finishing their dessert, Mr. Wilson was whisked off for a tour of the Bruce Energy Centre. KNECHTEL Cjkk SCRIMGEOUR’S POOD market MAIN STREET, BLYTH QUALITY SERVICE PRICE 523-4551 1 Friendly Courteous Carry Out Service STORE HOURS: Mon., Tues., Wed.,Sat.,8:30a.m.-6p.m.; Thurs., Fri., 8:30 a.m. -9p.m. We Reserve The Right To Limit Quantities To Normal Family Requirements. VALUES IN EFFECT UNTIL SAT., NOV. 22,1986. ‘FAMOUS FOR QUALITY” RED HOTS WIENERS 450 G. PKG. 1 . OUR REG. 2.89 SAVE 1.40 CANADA’S FINEST GRADE “A” BEEF OUTSIDE ROUND EYE REMOVED BONELESS ROUND STEAK ROAST 6.59/KG.lb. 2.99 NO BACK ATTACH ED CHICKEN BREASTS 4.39/KG. LB. 1. 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