LATE NEWS

Evening Post, Volume CXV, Issue 68, 22 March 1933, Page 8

LATE NEWS

CANADIAN BUDGET

FURTHER DETAILS

HELP TO PRODUCERS

United Press Association—By Electric Tel««

graph—Copyright. (Eeceived March 22, 2 p.m.)

OTTAWA, March 21.

Under the Canadian Budget, brought down by the Minister of Finance, Mr. E. N. Ehodes, the guarantee of advances to Canadian Co-operative Wheat Producers, Limited, remains in effect.

The stabilisation fund, designed to stimulate the export to the United Kingdom of certain farm and fishery, products and the guarantee to Canadian exporters of a definite fixed value for commodities,, will be established. For export purposes the Government proposes to peg the pound sterling at 4.60 dollars. The stabilisation fund will make good to exporters the difference between the actual day-to-day exchange value of the pound and the pegged value. . This will apply to animals and meats, including bacons and hams, poultry, fresh fish", canned fish, tobacco, cheese, milk products, canned fruits, canned vegetables, maple products, eggs, and honey: The Minister said he believed that the direct' arid indirect results would be increased "returns to the producers. At present, due to currency fluctuations, exporters, ia order to insure themserves against loss, paid the producers the very lowest possible price.

The excise taxes include unfermejited port, 24 cents per gallon; malt syrup or powder extracts of malt or other malt product for brewing beer, 50 cents per ,Ib.