April 25, 1974

SC

David Réal Caouette

Social Credit

Mr. Real Caouette (Temiscamingue):

Mr. Speaker, I should like to put a question to the Prime Minister.

Since he announced yesterday that he would introduce next Monday a bill intended to bring to order some of the companies that make exorbitant profits, the radio and television have not ceased to clamour that the bill promised by the Prime Minister was prepared by the socialists in Parliament in order to avoid elections. Would the Prime Minister clarify the situation and say whether socialism is making some headway within the Liberal party, or whether the government will protect personal initiative and private enterprise?

Topic:   ORAL QUESTION PERIOD
Subtopic:   CORPORATE AFFAIRS
Sub-subtopic:   BILL TO BE INTRODUCED TO CONTROL PROFITEERING
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Right Hon. P. E. Trudeau (Prime Minister):

Mr. Speaker, I believe the simplest way of answering the leader of the Social Crediters is to remind the House that probably the same journalists have been asking this in the last few months: When will the Prime Minister implement the promise made during the debate on the Speech from the Throne and take action against the companies whose benefits are excessive?- After asking the question for months they are flabbergasted that I should introduce the bill I promised.

Topic:   ORAL QUESTION PERIOD
Subtopic:   CORPORATE AFFAIRS
Sub-subtopic:   BILL TO BE INTRODUCED TO CONTROL PROFITEERING
Permalink
SC

David Réal Caouette

Social Credit

Mr. Caouette (Temiscamingue):

Mr. Speaker, I have a supplementary.

Is the Prime Minister also alluding to the CBC in his reply?

Topic:   ORAL QUESTION PERIOD
Subtopic:   CORPORATE AFFAIRS
Sub-subtopic:   BILL TO BE INTRODUCED TO CONTROL PROFITEERING
Permalink

FINANCE

PC

George Harris Hees

Progressive Conservative

Hon. George Hees (Prince Edward-Hastings):

Mr. Speaker, I have a question for the Minister of Finance. As the Canadian dollar has now risen to $1.04 Vi U.S., making it increasingly difficult for the 25 per cent of our production sold in the export market to be sold competitively, as shown by the last two months of merchandise trade deficits, will the minister advise the House just how high the government is willing to let the Canadian dollar rise before it will step in to control this rise?

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink
LIB

John Napier Turner (Minister of Finance)

Liberal

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

Mr. Speaker, I do not speculate on interest rates or exchange

April 25, 1974

rates on the floor of the House of Commons, but I say to the hon. member that he should reconcile the policy he is advocating with his friend from Don Valley who has been recommending for some months that the Canadian dollar appreciate against the American dollar. The current reasons for this appear to be, first of all, the general weakness of the American dollar, reflecting a very weak first quarter in the American economy, compounded by the Canadian situation where we have a very strong economy and perhaps the best balance of payments situation of any industrial country in the world.

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink
?

Some hon. Members:

Hear, hear!

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink
PC

George Harris Hees

Progressive Conservative

Mr. Hees:

As the minister made no attempt to answer my question-

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink
?

Some hon. Members:

Oh, oh!

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink
PC

George Harris Hees

Progressive Conservative

Mr. Hees:

-and obviously intends to take no action to stop the dollar from rising and endangering Canadian exports, may I ask the minister whether this is the kind of dynamic leadership we can expect him to give when he presents his budget on May 6?

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink
NONE

Lucien Lamoureux (Speaker of the House of Commons)

No affiliation

Mr. Speaker:

Order, please. I doubt whether that supplementary is in order. The hon. member for Peace River.

Topic:   ORAL QUESTION PERIOD
Subtopic:   FINANCE
Sub-subtopic:   SUGGESTED ACTION TO CONTROL RISE IN LEVEL OF CANADIAN DOLLAR VIS-A-VIS UNITED STATES DOLLAR
Permalink

ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS

PC

Gerald William Baldwin

Progressive Conservative

Mr. G. W. Baldwin (Peace River):

Mr. Speaker, I have a question for the Minister of Finance who will be bringing down his budget on May 6. He is obviously aware of the strict requirements as to secrecy of presentation regarding the budget. Was the minister aware and did he approve of the striptease technique practised by the Prime Minister and the Minister of Energy, Mines and Resources, the Prime Minister in response to a planted question, in disclosing matters and tax proposals which quite clearly are or ought to lie squarely within the realm of a budget presentation? Did he give his approval to what was done, or has he expressed his concern to the Prime Minister?

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

Mr. Speaker, I rise on a question of privilege. I would like the hon. member to specify what particular divulgations I made which might be of a budgetary nature. Would he please do that? He has accused me of talking about budgetary matters.

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
?

Some hon. Members:

Oh oh!

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
NONE

Lucien Lamoureux (Speaker of the House of Commons)

No affiliation

Mr. Speaker:

Order, please. The Chair will recognize the hon. member for Peace River on a supplementary question.

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
PC

Gerald William Baldwin

Progressive Conservative

Mr. Baldwin:

Mr. Speaker, I will be glad to take the Prime Minister outside later because I am unable to answer questions.

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
?

Some hon. Members:

Oh, oh!

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
PC

Gerald William Baldwin

Progressive Conservative

Mr. Baldwin:

Members on this side will be answering questions in a few short weeks. I have a supplementary question for the Minister of Finance. Has the minister received representations today following the extremely chaotic conditions which prevailed on the stock

Oral Questions

exchanges, particularly in Toronto, with a monetary erosion of almost $2 billion in Toronto and a 50 per cent increase in the volume of sales as a result of these improper disclosures? Is the minister able to assure the House there will be no further disclosures, either in the form of public electronic trafficking for political advantage or at all, and can he assure the House that the residue of the budget will be brought in without any further disclosures?

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink
LIB

Pierre Elliott Trudeau (Prime Minister)

Liberal

Mr. Trudeau:

Mr. Speaker, on a question of privilege, can I take it that the hon. member is withdrawing his allegation regarding me in his first question?

Topic:   ORAL QUESTION PERIOD
Subtopic:   ALLEGED PRIOR REVELATION OF BUDGET PROPOSALS
Permalink

April 25, 1974