The Goderich Signal-Star, 1981-01-07, Page 6PAGE 6 --GODERICH SIGNAL -STAR, WEDNESDAY, JANUARY 7, 1981
WE RESERVE THE RIGHT TO LIMIT QUANTITIES
TO NORMAL FAMILY REQUIREMENTS!
Economic
emergency
.• JACK RIDDELL,
MPP
The Treasurer of Ontario,
the 'Honourable Frank
an economie statement for
.4the meeting of Finance
11/TrAste_rs which was.. held in
Ottawa two weeks ago.
The document barely
refers to what can only be
described as an economic
emergency facing our
cciuntry and our province -
•that 1st the near record high
• level el interest raw, and
their deVastatifig effect on
small businesses and
shoineoniners—The Treasurer
talked vaguely about the
aid for new monetary
'thinking and new policies to
nevent-high-interestrates,
hut then demonstrated that
_Ire was inicapabk of
providing either and that,
even at the very least, he
was unprepared to take
measures to alleviate their
effects in his oin province.
We all 'mow that we haVe a
problem and we need a
• solution; The government. Of
Canada's_lonest province
surely, -Ought to have some --
•.solutions to 'offer 'before
many small businesses go
Y•iitto bankruptcy.
What is needed-urgeatly is
immediate help for
homeowners and small
businesses and the Finance
Ministers across the country
should set aside Other
matters and deal right new
with a cost share program to
help soften the effects of
interest rates on mortgage
holders and small
businesses.
The following proposals
were made by the Official
Opposition Members last
spring and hopefully the
government may consider
them at this time -
EMERGENCY
MORTGAGE
ASSISTANCE PLAN:
This programme would
provide relief to
homeowners as follows:
1. A "base" interest rate of
12 percent would be
estabbiked, Then part of the -
clifference between the base
rate and the actual new
interest payments due would
be eligihle for government
grants.
2. Grants would be provided
to homeowners based on a
sliding scale tied to gross
family income. For exam-
ple, family incomes of up to
$20,000 would qualify for a
grant of 75 percent of the
difference in payment levels.
A family with $27,500 in total
annual income would receive
50 percent of the difference
in a grant. Families with
over $37,000 income,
however, would receive no
grantsat alL
3. The following limitations
would apply: a) only the first
$40,000 of a mortgage would
qualify for a grant; and b)
the maximum grant
allowable would be $150 per
month.
EMERGENCY
EMPLOYMENT
PROTECTION FUND
This programme would
provide relief to small,
Canadian -owned, owner -
operated businesses by
making available a pool of,
government money, to assist
with loan interest payments
as follows:
1. The amount of govern-
ment funds to be made
available fOr this project
would be, a maximum of
$30,000,000.
2. Assistance would amount
to a basic 50 percent of the
difference between actual
interest charges and our
base rate of 12 p'etreht.
3. Priority would be given to
manufacturing and tourism
enterprises which have a
positive impact on our
balance of payments
position\
,Turn to page 7 *
•
4
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Prices effective thru Saturday, January 1Mh, 1981
Cana
All Purpose
P.E.I.
No. 1 Grade
20 -Ib Bag
. (Our Regular Price 3.99)
COME VISIT
4011=at A&Plim%
FOR FRESHNESS & FLAVOUR
Product of Florida
Thin Skin
Easy to Peel
JUKY
TANGELO .
each
•
9
4,0
• s
( Limit 3 rolls per family purchase
-- (Our Regular Price 1.55)
SAVE 3O
Assorted Colours, Facial
SCOTTIES
TISSUE
Box of 200 sheets
(Our Regular Price 99c)
; Strawberry & Cherry or Raspberry & Blueberry Regular (Toddler --Pkg of 24)
GALEA 6 pack of 99 BabyScott
Y
YOGURT T25 g toils DIAPERS Pk"
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GREEN PEPPERS.
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Canada Fancy, ,Product of France .
GRANNY SMITH• SEEDLESS
1
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•
99 SCOTT •
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RECIANGULAR BAKER
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ol
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•
w Valid until January 10, ' V.0
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99
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59-
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