March 21, 1957 (22nd Parliament, 5th Session)

CCF

Thomas Speakman Barnett

Co-operative Commonwealth Federation (C.C.F.)

Mr. Barneit:

There does come a time when we have concrete evidence as to whether consideration has or has not been given by the government by the results that consideration produces. However, I can still hope perhaps, from the interjection the minister made, that this is a matter which will be

rectified, because I think the discrimination becomes all the more clear in the light of the situation set forth by the hon. member for Nanaimo (Mr. Cameron) in respect of those deducting income from corporation dividends from the taxes payable by people whose income is from that source.
Now, Mr. Speaker, I realize that in the budget speech the minister made some reference to the topic of inflation; certain other references have been made from time to time to this subject by other speakers. I thought perhaps the minister might be interested in the impression which was given by his colleague the Minister of National Defence (Mr. Campney) on this matter during a recent visit he paid to the coast of British Columbia. According to the report I have here from the Comox Free Press the minister met the Liberal executive in the Comox-Alberni federal riding.
I assume that this was not a meeting attended by the press. Therefore, I imagine this is someone else's impression of what the minister said. It is not put in quotation marks. The report in the Comox Free Press reads as follows:
Mr. Campney said that the federal government is at present endeavouring to develop trade, secure full employment and also create prosperity in Canada.
Apparently, we are still a long way from these objectives, according to the Minister of National Defence. Then, he goes on:
One million homes have been built and the gross national product is nearly $30 billion this year, but inflation threatens. Inflation could easily destroy prosperity and result in depression as has happened in the past. The federal government has two ways of controlling inflation; either to reintroduce the direct and unpopular controls of credit and instalment buying of the wartime, or the indirect way of control by discouraging borrowing by means of increasing the interest rate, which is the only measure used at present. Whether the policy is at all effective or ineffective it is well-intentioned.
Well, Mr. Speaker, I leave the minister to draw his own conclusions as to where he is paving the road and taking his colleague with him as he goes.

Topic:   THE BUDGET
Subtopic:   ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
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