HomeMy WebLinkAboutZurich Citizens News, 1975-05-08, Page 17THURSDAY, MAY 8, 1975
ZURICH CITIZENS NEWS PAGE 17
The Ontario government will
provide, $25 million worth of
special interest loans this year
to farmers 18 to 35 years of age
to help them avoid borrowing
at high interest rates to get
started in business.
The Ontario Young Farmers
Credit Programme will provide
the guaranteed bank loans for
young farmers. There is no
limit on the amount of each •
loan. The loans will be for 10
years. During the first two
years, the farmer will repay
only the interest on the loan.
For the remaining years, he will
pay both interest and principal.
The interest rate will be P/0
higher than the prime lending
rate at the time.
Mr. Stewart, Minister of
Food and Agriculture, said that
within the last two years about
507/0 of the agricultural school
graduates are returning to work
on the farms and they as well
as other young people would
probably welcome the opportun-
ity to participate in this prog-
ramme to becom established.
The government will also
double its special grants to
Northern Ontario farmers this
year, according to Agriculture
Minister William Stewart.
A submission was received
this week by the Ministry of
Energy, Mr, Dennis Timbrell,
from Ontario Hydro concerning
proposed changes to its bulk
power rates to be effective
January 1, 1976. The proposed
provides for approximate in-
creases in revenue of $208
million from the municipal
utilities and $54 million from
the direct industrial customers.
This will result in a rate inc-
rease averaging approximately
29.70/0 to municipalities and
about 29.97/0 to direct industrial
customers.
The Minister indicated that
the proposed higher rates must
be substantiated by Hydro on
the basis of demonstrated and
necessary increases in costs it:
the full glare of public scrutiny.
It was also stated by the.
Minister that according to Hydro
the largest single contributor to
higher costs is the continuing
increase in the price of fossil
fuels --which account for bet-
ween 250/0 and 26% Ontario total
revenue needs in 1976.
The Minister said as required
he was referring this proposal
to the Ontario Energy Board for
its hearing and report. The
board will hold public hearings
which are expected to comm-
ence on June 9. This will prov-
ide an opportunity for Ontario
Hydro to publicly defend its
proposal and for interested mem•
bers of the public to study and
question it. The Board will
consider all evidence submitted
and opinions expressed before
submitting its report by the end
of August, 1975.
Meanwhile, the Association
of Direct Customers of Ontario
Hydro, representing large ind-
ustries which consumes 307/o of
Hydro's output, called the prop-
osed increase out of line with
economic realities and a threat
to the industries' competitive
position. Hydro has ignored
Ontario Energy Board requests
to drop reserve requirements
to 230/o, slow down its nuclear
programmes and delay building
a fourth heavy-duty plant at
the Bruce Nuclear station, pend-
ing an independent inquiry into
the need for such expansion.
Construction of that plant was
announced a week ago, and
although the Legislature has
been informed that the govern-
ment is not totally convinced
of the need for the full expan-
sion programme, there is app-
arently no intention of dropping
the plans in the immediate fut-
ure.
Premier Davis expressed his
concern in the Legislature over
the proposed increase in the
price of natural gas. He said
unless set aside, this higher
price will become effective on
November of this year. Mr.
Davis said the proposed increase
would worsen inflation and
increase unemployment. The
adverse impacts will ripple
through the national economy.
It is the view of the Government
that it is in direct opposition to
the current economic and social
interests of this nation. 'Mr.
Davis said it must not be
permitted. The Premier said
that an Ontario family that
uses 144 thousand cubic feet of
natural gas for cooking and
heating would see their costs
increased by $120 a year or an
average of $10 a month.
The government has agreed
to match dollar for dollar any
money raised locally to assist
those people who suffered dam-
age in the recent flood. Any
area interested in this program
sho uld establish a local com-
mittee to raise money. As soon
as this is done the committee
should notify Mr. M -D, Trewin,
Director, Subsidies Branch,
Ministry of Treasury, Economics
and Intergovernmental Affairs,
5th Floor, 56 Wellesley Street
West, Toronto,
Amendments to the Succession
Duty and Gift Tax Acts have
been debated, which provides
for an increase from $50, 000
to $70, 000 in the exemption
for gifts In farming assets for use
in farming, and from $2, 000
to $5, 000 in the annual exemp-
tion for gifts made by a donor
to any one individual, and from
$10, 000 to $25, 000 in the aggre-
gate of such annual exemptions
that a donor is entitled to claim
in a year.
Mr. James B,ullbrook, Liberal
Member for Sarnia questioned
the Ministry of Energy about one
of his constituents who had been
charged for the consumption of
3lectricity for December on the
basis of the rates as increased for
January, 1975. He asked the
Minister to investigate the mat-
ter because "if in fact, the
Ontario Hydro has charged not
only their retail customers but
.heir wholesale customers on
this basis, and the increase has
been passed on to the consumers,
the people of Ontario have been
tripped off to the tune of millions
of dollars."
Mr. Bullbrook also turned the
matter over to the OntarioEn-
ergy Board as he wanted an obj-
ective evaluation of the compl-
aints. A Hydro spokesman conf-
irmed that the 125o increase,
which became effective January
2, was applied to the constitu-
ent's hydro bill for the period
after his meter was read on
December 10. Apparently,
numerous complaints had been
received from consumers about
the backdating of the scheduled
January rate increase, but
Hydro does not intend to rebill
customers, claiming that would
cost too much money. Mr. Bull -
brook stated that the utility
should pay back all overcharges,
and if Hydro will not do this
voluntarily, the Ontario Energy
Board or the Cabinet should ord-
er a refund.
The Electoral Boundaries Act
and the Election Expenses Act,
both considered essential before
the call of an election, receiv-
ed third reading this week.
MONDAY through
THURSDAY
11 AM toy 6 PM
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