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PAGE 4, WEDNESDAY, MARCH 5,1976, WHITBY FREE PRESS LeisureýÜ-world 1 I1, FNIILY 1101BBY ( 1N I R 1 N 1T1 E OsH11A WAC ,N I R1 723-3393 Pre-shrink your income tax! Until you retire, probably with a lower taxable income than in your working years, you pay no incomettax,-on the fund you build up in your Registered Retirement Savings Plan.-People can put as much as $4,000. a year into this deferred tax haven. Meanwhile, your wealth increases - cumulatively - on the money you save from today's taxes. Start your Plan today at Victoria and Grey. The ail Ontario Trust Companyv begun in 1889 Member Canada Deposit Insurance Corporation TRUST COMPANY StNCE 1889 Lorne D. Reid 3«SDUNDAS We wNiTmy 21 or over? Working fui -time? Married? You should have your own OHIP number! Ministry of Health Hon. Frank S. Miller. Minister Chmber Pres.. Spaks by Gisele Seguini Canada's natural resources the contribution and progress from a source of pride and comfort was Robert Olson's message in his speech at the past Whitby Chamber of Commerce meeting. Mr. Olson is president of the Canadian Chamber of Commerce and president of Alwinsal Potash of Canada Limited in Lanigan, Saskatch- âwan. Mr. Olson sketched out the historical background against the current striggle for revenues, and the desper- ate search for new supplies that are being played out. He feels the federal govern- ment has promoted the growth of a strong mineral industry during the first half of this century. "The federal administra- tion offered incentives to producers, including a three- year tax-free holiday for all new mines and automatic depletion allowances amount- ing to one-third of the in- come subject to tax." These incentives, said Mr. Olson, together with a stable fiscal and political climate, stimulated growth in the re- source sector and Canadians "were the direct beneficiaries" He feels this resulted in the nation becoming self- sufficient in petroleum and our country quickly became the third largest producer of minerals in all the world be- hind the U.S. and U.S.S.R. This new arrangement affected the resource indus- tries as well as the petroleum industries. Both of these industries received harsh treatment under the tax reform. "The new rules of the ball game were a source of real concern to the non-renewable resource industries and necessitated some consider- able readiustment and re- 1 Ontario Hy Municipal Steering C( Your parents OHIP insurance no longer includes you. So apply for your own. Don't delay, or you could be walking into an emergency uncovered. Consuit your em- ployer or contact your nearest OHIP Office. The OHIP Office in your area wilI answer any questions you may have. 114 Worsley Street 726-0326 H-amiIIofl 25 Main Street West 528-3481 Kingston 1055 Princess Street 546-3811 Kitchener 68 Kng Street East 7457379 London 227 Queens Avenue 433-4561 Misalssauga 55 City Centre Drive 275-2730 Ottawa 75 Albert Street 237-9100 Peterborough 311 George Street North 743-2140 St. Catharines 15 Church Street 682-6658 Toronto 2195 Yonge Street (Eglinton) 482-1111 Windsor 1427 Ouellette Avenue 258-7560 *Untario Hydro's Board of Directors has approved mem- bership of a steering commit- tee who will assist in the restructuring of municipal electrical utilities in areas or regions covered by restruc- tured local government. Hydro Chairman Robert B. Taylor said, "Hydro is ready through the steering committee to assist municipal governments and utilities in their studies." He said Energy Minister Dennis R. Timbrell an- nounced last week govern- ment approval of guidelines on restructuring prepared by a government committee headed by William Hogg, president of Great Lakes Power Company. Chairman of the new steering committee is S. A. Baldwin, Commissioner Ancaster Township Public Utilities Commission. Mem- bers are A.G. Stacey, general manager Guelph Board of Light and Heat; L.E. Cooke Barrie, a member - of the* Provincial-Municipal Liaison Committee; E.M. Fleming of the Ministry of Treasury, Economics and Intergovern-, mental Affairs; H.K. Wright,- thinking" said Mr. Olson. This was abruptly shat- tered by the federal election campaign of 1972. The campaign t featured a sus- tained and systematie attack upon business, in general and in particular, resource com- panies. "Earned depletion, explor- ation incentives, tax deferrals - all of them features of federal, legislation conceived by governments and ap- proved by parliament - were suddenly portrayed in cam- paign rhetoric as evidence of questionable business prac- tice at best, and outright evasion at worst," said Mr. Olson. The election outcome in- dicated the public sympath- ize with those who had initiated the war on business. Canada embarked on two years of minority government and entered an era of unpre- cedented economic change. "The combined effects of world-wide inflation and accompanying shortages, coupled with rapidly escalat- ing oul prices, created a new ball game" said Mr. Okon. The federal government slapped on an export tax which evenwally rose to $5.20 a barrel on oil being exported to the United States." The domestic price was fro- zen at $6.50. These prices are still under consideration. The provincial govern- ments bypassed their existing royalty agreements and at- tempted to push the federal government out of a substan- tial part of the income tax field. "The net. result of these actions was catastrophic for the industries since it signi- ficantly reduced the indus- try's cash flow," said Mr. 01- son. Today's focal issue is a iconstitutional one. The ques- which is' emphasized in his statement." CLASSIFIED ADS 668-6111, tion of control of resources within provincial boundaries and the relative taxing rights of the two senior levels of government still remains to be resolved through the courts or compromise or con- ciliation. Recent events tend to suggest the bargaining route will be tried first. Mr. Olson feels the two levels of government have become so pre-occupied with dividing up the potential revenues available from re- sources, particularly gas and oil, that they have over- looked the consumer and investor. This resulted in Canada beginning to lace the pros- pect of becoming a net importer of petroleum at a relatively early date. "The industry with which I arn associated has also felt the crunch. We are hearing stories of major expansion programs being placed on the self at a time when the world is facing serious food short- ages," said Mr. Olson. Last October, the Canad- ian Chamber addressed them- selves to John Turner, Mini- ster of Finance, to modify the federal position on re- source revenues as a first step towards effecting a solution. His November budget did contain some modification. On January 20, the Cana- dian Chamber met in Ottawa with the Prime Minister and his cabinet. In their statement to the Cabinet they recommend "that the federal government and the governments of the producing provinces, without further delay, jointly struc- ture taxes and royalties so that there will be a potential rate of iretuin on investment to the producing sector of the industry which will pro- vide the needed incentive to dro Ok's U tilities ommittee Ontario Hydro Director of Customer Service, and the chairman of each local study group requesting assistance. D.A. Ramsay of Ontario Hydro is Exëcutive Director of the steering committee. Mr. Timbrell told the legislature last week, "we will only take part in restructur- ing studies and programns when we are invited to do so0 by the local authorities-" He said the guidelines, prepared by the Hogg Commit tee, call for maximum input at the local level "to ensure that any restructuring of utilities is carried out to best serve local mnterests. Equitable rate structures for all customers within the re- gion would be a primary objective." Hydro Chairman Robert B. Taylor said, "we welcome the action of the Energy Minister and endorse the high degree of local participation High School, 8:39 a.m. Chestnut and Cochrane Streets, 8:40 a.m., Palmer- ston and Centre, 8:45 a.m. The pick-up at Chestnut and Brock Street North is at 8:50 a.m. For further information call the Y office at 668-6868. * 'j * . - . .. .. __________________________~,~j~~~~fl~4~gfl~4~gI~~L~EoeJa~éun~.~6*, t'44. Ontario la risk thé substantial sum necessary." They ask for immediate action to resolve the conflict. The problem has yet to be resoived. Besides the energy short- age, Mr. Olson feels, that Canada has an investment problerri. . This results from the uncertainties concerning the future price of oil, the tax structure and the total tax load and the uncertainty about royalties, about off- shore jurisdictions and about: land regulation in the frontier and remote areas. Mr. Olson said, "The long- er the basic issues remain un- resolved, the more serious it becomes - not for the explor- ers and developers who have' already removed their rigs - but for you and me and our children and their children's children, as energy consum- ers." The chamber will continue. doing their part in pressing for action in the interests of all Canadians said Mr. Olson. Wh*itby Y Spr'ing Camp A Spring Camp is being offered by the Whitby YMCA during the school break, March 17-22 at the Brooklin United Church. The camp is for boys and girls from grade one level to 14-year olds. There will be both a junior and senior camp. The spring day camp of- férs council rings, songs, skits, small group meetings, crafts, group games, hiking and na- ture lore. Campers must sup- ply their own lunches each day. Coid drinks will be suppiied. Many children will be en- joying a reunion with their summer day camp friends and others will get an intro- duction to the- July and August Day Camp program conducted by the Y and the Heber Down Conservation area. A selected group of counsellors under the direc- tion of Y program director Elizabeth Moore -and Roger Gomes will be in charge:.of the activities. A maximum enrollment of 50 will be accepted, therefore it is essential to pre-register by Monday'. Pre-registration will be held at the Y office. The Y camp bus service will pick up the children according to the following schedule for the program which lasts from 9:15 a.m. to 3:30 p.m. daily. The bus will pick up children at Ajax Hligh 8:15, old Brock Street School in Port Whitby at 8:30 a.m., at Kathleen Rowe Schools at 8:32 a.m., Dunlop at Athol Streets at 8:33 a.m. Centennial Building, 8:35 a. m., Henry Street High School 8:37 a.m., Dennis O'Connor