CANADA’S BUDGET

Press, Volume CI, Issue 29798, 14 April 1962, Page 15

CANADA’S BUDGET

Big Deficit Forecast (N.Z. Press Assn.—Copyright) OTTAWA, April 11. Canada’s Finance Minister (Mr Fleming) last night introduced an election-year Budget providing for 128 million dollars a year in income tax cuts for families and corporations while producing a deficit estimated at 745 million dollars. His two key Budget moves announced in the House of Commons were: Tax-rebate incentives to manufacturing and processing firms ranging up to 50 per cent, of taxes resulting from increased sales. A 50-dollar boost in- the income tax deduction for dependents—a move Mr Fleming said would remove 80,000 taxpayers from the tax rolls and benefit all taxpayers who supported dependents. The Budget left personal and corporate income tax rates unchanged, but extended new incentives to promote industrial research and oil and gas exploration. The deficit Mr Fleming forecast for the 1962-63 fiscal year that started on April > would be the sixth in succession, topped in peace time only by the 791,400,000-dollar deficit reported for last fiscal year. Mr Fleming said that in the current period of “healthy expansion” his Budget policy “must neither put the brakes on the momentum of our expansion nor invite the danger of inflation.” The Budget left taxes on liquor and tobacco unchanged, while producing a scattering of tax adjustments mainly affecting corporations, the Canadian Press reported. The Budget did not implement the tax and tariff measures that the Prime Minister (Mr Diefenbaker) announced in January would be applied to stem the flow of Canadian dollars to United States magazines for advertising. Mr Fleming left little doubt that his Budget was the stage-setter for an’ election campaign, the Canadian Press said. It generally was anticipated that Parliament would be dissolved within 10 days for a mid-June election. UNREGISTERED FIREARM On a charge of being in possession of a firearm without a oermit between January 1 and August 22. 1958. Kenneth David Purves. aged 31. a workman, was fined £l. Purves was fined 10s on a charge of delivering a firearm to another person. He pleaded guilty to both charges. DISCHARGED WITHOUT CONVICTION Charged with possessing a firearm and procuring a firearm between January 1 and August 22, 1958, Ngalre Beth Harper (Mr M. J. Glue), was discharged without conviction under Section 42 of the Criminal Justice Act. The defendant pleaded not guilty to both charges. Mr Glue said the defendant had taken the rifle as security for a loan of £5. The defendant knew nothing about guns or regulations concerning firearms