May 30, 1972

FINANCE

INTEREST RATES-SUGGESTED CONSULTATION WITH CHARTERED BANKS TO PREVENT INCREASE

PC

John Patrick (Pat) Nowlan

Progressive Conservative

Mr. J. P. Nowlan (Annapolis Valley):

Mr. Speaker, I have a question for the Minister of Finance which is related to one asked by my colleague earlier in regard to the pressure on the Canadian dollar. In view of the upward pressure on interest rates in this country, is the minister having consultations with the presidents of the chartered banks to ensure that the interest rate structure will not also go up?

Topic:   FINANCE
Subtopic:   INTEREST RATES-SUGGESTED CONSULTATION WITH CHARTERED BANKS TO PREVENT INCREASE
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LIB

John Napier Turner (Minister of Finance)

Liberal

Hon. John N. Turner (Minister of Finance):

Mr. Speaker, I stay in touch with the chartered banks and will be meeting with the Canadian Bankers' Association in Winnipeg next week.

Topic:   FINANCE
Subtopic:   INTEREST RATES-SUGGESTED CONSULTATION WITH CHARTERED BANKS TO PREVENT INCREASE
Permalink
PC

John Patrick (Pat) Nowlan

Progressive Conservative

Mr. Nowlan:

I am glad that the minister is to meet with these important gentlemen next week, but is he going to put forward any proposals or propositions to them so that we do not have an increase in the interest rate structure which is already too high?

Topic:   FINANCE
Subtopic:   INTEREST RATES-SUGGESTED CONSULTATION WITH CHARTERED BANKS TO PREVENT INCREASE
Permalink
LIB

John Napier Turner (Minister of Finance)

Liberal

Mr. Turner (Ottawa-Carleton):

Mr. Speaker, I will be discussing the underlying situation with the banking association.

Topic:   FINANCE
Subtopic:   INTEREST RATES-SUGGESTED CONSULTATION WITH CHARTERED BANKS TO PREVENT INCREASE
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LOWERING OF INTEREST RATES AS MEANS OF REDUCING PRESSURE ON CANADIAN DOLLAR

NDP

Douglas Charles Rowland

New Democratic Party

Mr. Doug Rowland (Selkirk):

Mr. Speaker, I have a supplementary question for the Minister of Finance. In his conversations with the bankers next week will he be presenting any suggestions to them on behalf of the government for the lowering of interest rates as another means of reducing pressure on the Canadian dollar?

Topic:   LOWERING OF INTEREST RATES AS MEANS OF REDUCING PRESSURE ON CANADIAN DOLLAR
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LIB

John Napier Turner (Minister of Finance)

Liberal

Hon. John N. Turner (Minister of Finance):

Mr. Speaker, I think the banking association understands that proposition.

Topic:   LOWERING OF INTEREST RATES AS MEANS OF REDUCING PRESSURE ON CANADIAN DOLLAR
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?

An hon. Member:

Do you?

Topic:   LOWERING OF INTEREST RATES AS MEANS OF REDUCING PRESSURE ON CANADIAN DOLLAR
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DIFFERENCE IN BANK INTEREST RATES ON LOANS

PC

Eldon Mattison Woolliams

Progressive Conservative

Mr. Eldon M. Woolliams (Calgary North):

I have a supplementary question for the Minister of Finance. When he is having conversations with the presidents or officials of the various banks would he discuss with them why certain people can get loans at the prime rate, probably 71 per cent, when the majority of people in the lower income bracket have to pay 12 per cent and sometimes 14 per cent?

Inquiries of the Ministry

Topic:   DIFFERENCE IN BANK INTEREST RATES ON LOANS
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POLLUTION

REPORTED REOPENING OF SUGAR BEET REFINERY ON PRESQUILE RIVER

PC

Hugh John Flemming

Progressive Conservative

Hon. Hugh John Flemming (Carleton-Charlotte):

Mr. Speaker, my question is for the Minister of the Environment. Has the minister's attention been directed to the report that a sugar beet refinery in the state of Maine, located on the Presquile River, a tributary of the Saint John, is to start up again. I might say that this is the industry that was responsible for the pollution of the Presquile River some years ago that caused a tremendous amount of hardship for people in that particular locality.

Topic:   POLLUTION
Subtopic:   REPORTED REOPENING OF SUGAR BEET REFINERY ON PRESQUILE RIVER
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LIB

John (Jack) Davis (Minister of the Environment)

Liberal

Hon. Jack Davis (Minister of the Environment):

Mr. Speaker, the answer is yes, and we are expressing our concern about it.

Topic:   POLLUTION
Subtopic:   REPORTED REOPENING OF SUGAR BEET REFINERY ON PRESQUILE RIVER
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GOVERNMENT PROPERTY

REQUEST THAT JERICHO NATIONAL DEFENCE LAND BE LEASED TO VANCOUVER FOR PARK

NDP

Winona Grace MacInnis

New Democratic Party

Mrs. Grace Maclnnis (Vancouver-Kingsway):

Mr. Speaker, I have a question for the Minister of National Defence. As the taxpayers have already paid for the Jericho base land which Vancouver needs so badly for an ocean-side park, will the government, instead of squeezing Vancouver for nearly $1 million, lease it-

Topic:   GOVERNMENT PROPERTY
Subtopic:   REQUEST THAT JERICHO NATIONAL DEFENCE LAND BE LEASED TO VANCOUVER FOR PARK
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IND

Lucien Lamoureux (Speaker of the House of Commons)

Independent

Mr. Speaker:

Order, please. The hon. member knows that a question cannot be asked in those terms. The hon. member has to ask a question and not present argument.

Topic:   GOVERNMENT PROPERTY
Subtopic:   REQUEST THAT JERICHO NATIONAL DEFENCE LAND BE LEASED TO VANCOUVER FOR PARK
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May 30, 1972