MOTOR INDUSTRY
CONTROL IN CANADA
SAVING FUNDS AND TOOLS
QUOTA SYSTEM
(By Telegraph—Press Association—Copyright.)
(Received February 15, 8 a.m.)
OTTAWA, February 14,
The Minister of Finance, Mr. Ilsey, has announced Federal control of the automotive industry to conserve foreign exchange and vital machine tools. The Minister said that a quota system will be substituted for the present prohibition of imports from non-sterling areas.
The action had been prompted by the prospect that non-Canadian manufacturers, handicapped by import retrictions, intended to establish plants in Canada, thereby increasing the demand for tools. Under the new plan production will be limited to the number ,of cars entitled to be imported under the quota system.
The quota for the three months ending March 31 will be 20 per cent, of the imports for the same period averaged over-the previous three years. The Minister of Labour, Mr. McLarty, announced that Federal contributions to the provinces for unemployment relief would be discontinued on March 31 for the duration of the war, saving 7,000,000 dollars a year.
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Bibliographic details
Evening Post, Volume CXXXI, Issue 39, 15 February 1941, Page 11
Word Count
170MOTOR INDUSTRY Evening Post, Volume CXXXI, Issue 39, 15 February 1941, Page 11
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