January 17, 1969

ROUTINE PROCEEDINGS

TRANSPORTATION

LIB

Donald Stovel Macdonald (President of the Privy Council; Leader of the Government in the House of Commons; Liberal Party House Leader)

Liberal

Hon. Donald S. Macdonald (President of the Privy Council):

Mr. Speaker, there have been certain discussions in various comers of the house with regard to the work of the committee on transport and communications. It has been agreed that it might be desirable if that committee were to make a detailed study on the spot of transportation problems in the Atlantic provinces. I therefore ask the leave of the house to present a motion in this regard.

Topic:   ROUTINE PROCEEDINGS
Subtopic:   TRANSPORTATION
Sub-subtopic:   ATLANTIC PROVINCES-STUDY OF PROBLEMS BY STANDING COMMITTEE
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?

Some hon. Members:

Hear, hear.

Topic:   ROUTINE PROCEEDINGS
Subtopic:   TRANSPORTATION
Sub-subtopic:   ATLANTIC PROVINCES-STUDY OF PROBLEMS BY STANDING COMMITTEE
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LIB

Donald Stovel Macdonald (President of the Privy Council; Leader of the Government in the House of Commons; Liberal Party House Leader)

Liberal

Mr. Macdonald (Rosedale):

I move,

therefore:

That the standing committee on transport and communications be empowered to consider and report upon the problems of transportation in the Atlantic provinces and that for the purposes of its inquiry the committee be empowered to adjourn from place to place within Canada and the clerk and the necessary supporting staff be authorized to accompany the committee.

Topic:   ROUTINE PROCEEDINGS
Subtopic:   TRANSPORTATION
Sub-subtopic:   ATLANTIC PROVINCES-STUDY OF PROBLEMS BY STANDING COMMITTEE
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Motion agreed to.


PC

Wallace Bickford (Wally) Nesbitt

Progressive Conservative

Mr. W. B. Nesbitt (Oxford):

Mr. Speaker, on behalf of the opposition party I should like to say that we welcome this announcement very much.

Topic:   ROUTINE PROCEEDINGS
Subtopic:   TRANSPORTATION
Sub-subtopic:   ATLANTIC PROVINCES-STUDY OF PROBLEMS BY STANDING COMMITTEE
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ORAL QUESTION PERIOD

FINANCE

PC

Robert Lorne Stanfield (Leader of the Official Opposition)

Progressive Conservative

Hon. Robert L. Stanfield (Leader of the Opposition):

Mr. Speaker, I should like to direct a question to the Minister of Finance, and welcome him back to the house after his expedition last evening. Today I wish to ask him whether he is concerned about the advertising campaign of the chartered banks in

which they urge Canadians to borrow from the banks to buy convertibles and other items which they may desire, and to use bank credit freely for spending purposes.

In view of the inflationary pressures and inflationary psychology of the country, as well as the difficulty in the capital markets, is the minister concerned about this? If so, I should like to know whether the minister has discussed this with the banks and whether he believes it is in the public interest for the banks to be urging Canadian individuals to borrow for anything they may desire. I consider this question particularly appropriate when I notice the pressure of the banks in constantly urging Canadian governments to live within their means, and not to borrow freely.

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   BANK ADVERTISEMENTS TO ATTRACT BORROWERS
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LIB

Edgar John Benson (Minister of Finance)

Liberal

Hon. E. J. Benson (Minister of Finance):

Mr. Speaker, I find the views of the Leader of the Opposition very interesting. As he knows, banks have been competing with one another and with other institutions very aggressively for consumer loans. I presume that part of the advertising to which he has referred, and incidentally I have not seen it recently-this morning, at least-is to attract business from other consumer lenders. The over-all effect of this has been a reduction in the rate at which consumer loans have been made to the public in the past year or so. As the Leader of the Opposition has mentioned, and the President of the United States has done this also, we have urged people in Canada not to spend freely. I was very interested in his comment that banks castigate governments for spending and then turn around and encourage the public to spend.

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   BANK ADVERTISEMENTS TO ATTRACT BORROWERS
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THE CANADIAN ECONOMY

WATKINS REPORT-GOVERNMENT ACTION TO PROTECT ECONOMIC INDEPENDENCE

NDP

David Lewis (Parliamentary Leader of the N.D.P.)

New Democratic Party

Mr. David Lewis (York South):

Mr. Speaker, I should like to ask the Acting Prime Minister this question. In view of a speech made recently by the Secretary of State in New York, again emphasizing the need to protect Canadian economic independence, is the government considering legislation to implement aspects of the Watkins report to provide that Canadian firms, which are subsidiaries of American companies, are free to

January 17, 1969

Inquiries of the Ministry trade anywhere without being subject to United States laws? Has there been consideration of the recommendation to provide a state foreign trade agency, and of the other recommendations in the report to protect Canadian economic independence?

Topic:   THE CANADIAN ECONOMY
Subtopic:   WATKINS REPORT-GOVERNMENT ACTION TO PROTECT ECONOMIC INDEPENDENCE
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?

Hon. Paul Keilyer@Acting Prime Minister

Of course these questions are under continuous review by the government. Any definitive policy decision will be announced in the normal way.

Topic:   THE CANADIAN ECONOMY
Subtopic:   WATKINS REPORT-GOVERNMENT ACTION TO PROTECT ECONOMIC INDEPENDENCE
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CANADIAN DEVELOPMENT CORPORATION

REQUEST FOR INFORMATION RESPECTING LEGISLATION

NDP

David Lewis (Parliamentary Leader of the N.D.P.)

New Democratic Party

Mr. David Lewis (York South):

I should like to ask the President of the Privy Council when this house may expect the introduction of the bills dealing particularly with the government's reorganization program and the Canada Development Corporation?

Topic:   CANADIAN DEVELOPMENT CORPORATION
Subtopic:   REQUEST FOR INFORMATION RESPECTING LEGISLATION
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LIB

Donald Stovel Macdonald (President of the Privy Council; Leader of the Government in the House of Commons; Liberal Party House Leader)

Liberal

Hon. Donald S. Macdonald (President of the Privy Council):

Mr. Speaker, I hope to make a general statement within a week or so about the intended legislative program between now and, I hope, the end of the session in June. Perhaps hon. members could wait until then, when I can be a little more definitive.

Topic:   CANADIAN DEVELOPMENT CORPORATION
Subtopic:   REQUEST FOR INFORMATION RESPECTING LEGISLATION
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AIRPORTS

January 17, 1969