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C""'"-"'--"" 7% l i i, l, receive sufficient riiireifites from our 5 ef ur us i own fields of taxation to meet the I ' 't obligations which will be placed be- . , fore us." _ . ' M. . . i. Frost spoke of the disappoint- . e uc Ions In e s ment of his Government at the I failure of the Dominion Government to call a Dominion-Provincial con- Re orfe reasurer ference, asserting that such a con- p ference should be convened without . I further delay Turning to the Do- i No new taxcs of all:' kind, a nct surplus on ordinmy account minion-Provincial tax agieenient of 'of S8.922.,400, reductions in the funded and gross debt. and. a 19331117" .dpi'linlmli ' its islaturp forecast ot a "lane"! budget for 1046 "(To some of the major of [)n1r.,t/,y',ry1'r'o"otdan/,ijh'"r)ih',1('; . " . . t a S" t ' "v . e islature . 6 l pm '. announcements in tht Bttdiet I'Isiiicch delivered in the L gt - Into thr, agreement of 1943, In the vesterdeTr i)" Trzmriuirn' hem" same spirit of co-operatton and i.:ood c, . ' _ , . _ _ .. " ' : "The Govern- l _ " Frost. Payment ot 38.808.000 to the ation. Mi. Frost 'til consideration faith 1, had the "gin to expect school boards of 0".""m' '3," Intent has Iglt\en and has decided that, in this fiscal year Just closing. amount equal to ty+roxinyyls M to this 1e,1lf'")1","2, whim" Do- when we are hunting on to the Pet' cent of tly' 1945 swn.cral Ire'.?1ti, ;th"tj m ll.?.).' o . kf-r'ncebit is days of peace with all its attendant the grants for edtu-ation. redid-MI .minion-Pioxincml ton t. I' .' true problems. a (.'mfm.(_n,.,, would have the year's surplus to 8114.400. Thr/ Iundesuable to add to df buns d we" held to the end that this Prov- sum of about 311000.000 trill be Paid" ture Which we belieH' lt, a: 1:?th in") end all of the Provinces of to the school boards Ill the late therefore It has heen tl) ecu; Canada toulrl haw, planned soundly summer or earl} fall to cotitPIOU'I lno new taxation of any kind WI J',", and \'.l>t'i} for the filming dais. the Drew Cioieinnwut's pledge lt, 'imposed. I am sttrc the House "luv Great Injustices aSsume FO per cent of the overall, ii'ejoice that not only will there be I . . J s _ . cost of education in the Province. no Inct'Ptrs" in taxation. but Ill fact . Denied theInitgmrtutiiti of ii|"'i'i- Informing the House that the great relief will he IL'H'an to tea: 1r,C1l',rc,',',f,"c,rs'"c"l1",,,),t,1,11):.'. Gororumrent intended to continue estate owner-shy reason 0 a mos 0 , ilIiieiiiniIer .1 o. a '. ted l its "a)-as-10tl-'i,'0 Policy. Mr. Frost drastic reduction in muturupiil ttis- taito ',';"d"?dvi2'l,".C,"','t (,it/.'f/,72ld,o. estimated a net surplus of 569.328 alien. ' . (1': will)" 'l trio-at ('3'th 111'"! l W on ordinary act-ount for the fiscal The kc_'.note tit inc BUNK" "it: WI guts]! Spit)": 1.21.12)": It)? _ ., ' _ . ' - _ 's s . Fr" . ">5 , ls, yi . . V yil. I'? 5' Mai ending March 31. IN6. Ho. stimuli. Mi. Fmst :ttUitJi Addie iiI sini l lilo: t [it Ji,") based this forecast on estimated net. :of this kind. \Ix'tis the l/21lyTdrlvi' iii" nut liit'tlidTII 1" "d "WI I,', otdinar:, t't?1f'tlu'C of.5;113,fi68,317 and, need for a D?m.ipiov.-Pl""'u1i.al con- tits stint tine use mirh' T, n estimated ordinary expenditures of 'ference to clarify tho tm'iiimh of mdF'Hin ttntl ny,ll1ysiitri .' IH?, S113.598.989. imp various jt1risdiituotir with re- Impact of heavy Federal taxation. . ' . _ i _ , c .._.. i _ , and the One of the essentials of instu'ar Foial lint rmonue during the sitett to no tutti hittiniitpnimi'ImN plannmw h lo brine about fIreedoni fiscal tear April l. 1944. to March. huge expenditiiies its, t Ckil. of inwampm 1-,» - 'e 31. 194.). "as S116.023,000. of which; tay-Ati-You-Go Policy .. , l sy..','., . . I, t . I is; "sti at I Ordi ...5 . ... ' f't t The (tiilcliilOll of capital lo on. eno "110'?!" Ldt. thild'f'h'hpt Tall? ', summarizing: itinIsarliint 'i1."l'2i. Fromm-I and Ihrt frors (,nwlowmmt . span lllt( _Ul( m. '" _ sdn _ IOf the Budget. tho» Irltdxuul In- of this "Rpm" would Home pros- _period was S115S09,400. lotal cross 'vlarod: "We are adhering it) a strict- . e . r 're _ .. _ , ' " l 7.. Is 'rtb' SM 869800 nd' ; I ' _ . i . pent} and work. inevitably leading, irapt a tTtelW?iwPt'eSo'q, '. .a li) pains-you-ge Polit? dttt nit among othor things, to larger ttotal gross taintal payments were butter-tine for a moderates \xartlnip . 'e. I I " I .., PN a v'. soiiites of tmetttie. lS20.098,600. i surplus. Wo have fully implement- Financitt . Picture Brirht iBalam-ed in Wartime I ed the pledge i-micetiiing at) per ' g . g _ F . . F , . " Ths, In a bright pit-title of the finants . I lit. ti a ti l l l f l " . went of tin (0st of education. ll . , _ I1Olta tng m i M? (ab 0 luiH?; payment of one unit on the general " during the tear. Mr. Frost ar- ,SWDiU-'eh tttT? fi.nisl"d for 501119. ;,"\.;(I"mpm to my". municipality notinccd " $2,262,487 reduction in itime to come. Mr. Frost predicted; a". .. _ . _ . . . ' . tho 's. f ".__, stuns", d debt F -. , h l " d .. .- b tic f b, will he conti-iued. Piovision ls l "H 0 "'"I' Pt iyl/. C 77""? '21 aanie . wat'tinte u 'ifl, ,9" made to subsidize tho Northern lCltly', a reduction at $27,109,200 in '1946, the small net surplus of $69,328 ' f . F . "iialiticu The Teach- the Province':, funded debt. pa). irefleciiiig the Government's as» m"yly mum" _ '.', _ inent 0.. fundinu of all Treasut". imm tion of 50 m. '9 t f ll ers Superannuation Fund has nou , . _ t . . ," p . , I t n o oVCltt . t l I d on a sound tinancia bills and the refunding in New York _odtiationalcosis. [:21 'a11fe1d'nnu,i'C'",'l12ld iir,T of a new $13 million loan at the ,', Mr. Frost sai.d h" PiUPOM'ti to ask atice assured. We are budgeting m lowest interest rate ill history, 1%. "he House for immediate authoriza- reduce the 2l'Oss debt of I," per cent. (tion lo distribute the $8808,000 to Province "Id f/Ci' /, rvtlttce the net Mr. Frost pointed out that it had 3the schools of the Province. This T C ' . . .. l j been customary lo tefer to the cost I . debt in the coming fiscal peat. l . . _ ixt'ill amount lo about one-third of "We have taken constructive ac- ol serrictng the public debt and ex- the total grants to he paid school tion on (pO'iVV'tl' 'v/iii/iii,,',, and hr penditui'c required to procure for. t . . t . c . . . _ liiodies. The athance pmntents will on iprvin , on; credit imdpming ni, leign exchange to meet Interest and ily made not later than the end of be"? tam-L 'iddinc no new dieht'and 'deht maturities payable in ('Ul'l'Cllt') Ethe Present fiscal .\ear. March 31, 'i.iiii'.'iii'sl,"'//),' Budnet up lo Vlarch other than the Dominion of Canada he said. C.. I . '5 c. f . _ as "uncontrollable expenditures." ' 21 1946. wc havo left the WiO ileai H . _ . The Treasurer told the Legisla- , . -." . . ' lhis was true only in part. Net ' I . . . . for a Dominion-Provincial confei- , . I tute that. in achieving its results, " . " Mr Frost said . (rest. of interest and foreign es- "lte Government was not in am way 'ni,f,'indh' 11).".th 'of the handi- change had been reduced in two stinting the undertakings of the -' ) K/IJ, wlhich Ontario is operai- iyears from $22,945,087 for the fiscal Province in administrative. socialor if?" the Tieasurer declared that year ended March 31. 1943, to $20.- development service. In health and; while most siiUi,i, of the American 682.600. for the year ending March welfare more than $600,000 is being Union iiiii, piled'up huge cash stir- |31 next. appropriated for these departments, . we to bo used in pb'm." do? "This impressive accomplish. in excess of their actual expendi- 80k: merit "Ontario has turned over ment." Mr. Frost said. "is the result lures for the rear just closing. Ir '/T, Dominion Govémmom tax- of following sound policy, especially Labor Department estimates are iii" riahts 'from which verv large Iin respect to refinancing maturing increased by 393.350. the largest iii- 'suiiis Pivould have accrued "0 the iobligations. crease P the .lisrtot: of the Prov. Province." Univ->5 clarification ot iGood Example Cited ince; "it"? 11"": sh/gtg..' lincreased the various' fields, including tara- 3 Interest charges for the bear be. 'l',',',',',",),,")", (fl bien b. . 'dagdi and tion, was obtained, it would be im- "inning next April 1 will show a totes s 1[ad ti h .'. 305":- S612,000: possible for Ontario and Its more (further reduction, Mr. Frost told game "an s f.?y..ri 11,Pe,0,, and ithan 900 municipalities P properly jthe House. One transactions in re- agqcuruiet 122)l'Jht'? .3140'900- 'deal with postwar questions. {funding which will save more than . - I" 'll'",. :ei'eo-tnced , "dump" Heavy Outlays Certain $225,000 in interest charges next P cos (2)2ti348'7 s an] tbt "Mic. [ "It is inevitable that the Province year concerned $15 million borrow. mg ordsd iii' £852179i0'géwn m the, 1vill he confronted with great ex- led in July, 1942, by the Govern.. funde 'en thoe' rose ir,') and a ipenditures following the war," Mr. lment of the day. Borrowed in New decrease I tr "c tlt? t ot 318'" Frost continued. "It is necessary iYork, the coupon rate was 2% per 42(1.-I350 . ' , lans :cent. the term of the loan three; Speaking of the Governments de- What we should not only have I.'.?', , . . . Tl _.' b . d f . h . . not to impose an' , . :prepared to undertake these tasks, Yeat's. te price 0 tame Y" t e; cttuon . b neu tax-, ibut we should know how long it debentures had resulted in the, "will be before we may eypect to imoney costing 3 percent. .