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Publighed by-Scugog Ci Citize Publishifg Ltd. co-publishers : Jolin B, McClelland, Valerie Ellis editor : John B. McClelland ocktmba' THE 5CUGOG CITIZEN yadvertising manager : : Valerie Ellis @n 1 + Chris Hi A Just a 'hiccop'? Just when the battered Canadi appeared to be poised to jump upwards, that old nemesis--rising interest rates-- reared its ugly head last week. A round of increases is most certainly not what the doctor ordered to help the recovery of an economy that has been battered by recession for the last three years. The reaction among financial experts to last week's rate hikes was mixed with some saying the rates are going even higher and others this is just a "hiccop" that won't last and the rates will éase downward, perhaps to the 30 year low of just a couple of weeks ago. If there is anything close to agreement among the many experts it is that the internati y system is in a pressures both external and home-made that are pushing down the value of the Canadian dollar in relation to the American dollar. One analyst cited everything from the Ontario government's decision last week to eat a further $2.5 billion deficit, to the assassination of a Mexican politician, to the Spectre of Quebec sep tion after the provincial this ot doubt all of these factors and others are serving to drive _| the value of the down. But all the mixed signals that accompany rapid fluctuation in interest rates do nothing except make potential borrowers very nervous. And this won't help the Canadian economy. The real estate market especially is vulnerable when,potential buyers get skittish. But likewise the market for a whole range of "big ticket" items where consumers have to secure credit to make the purchase. These include vehicles, furniture, appliances, home renovations, that new garage, a back-yard swimming pool--the list goes on. 'They may postpone credit in this of volatility for two reasons--the hope that rates will down in the next few weeks or month, or the fear rath continue to go up. The spike in the interest rateslast week could not have come at a worse time. There have been indications over the last several ths that the Canadi was slowly shaking out of the doldrums, and with it a renewed feeling of confidence consumers and business investors. Inflation is at an all-time low, interest rates hit 30-year lows just a couple of weeks ago. With the economy picking up or at least perceived to be picking up, 'the public felt more secure about jobs. All this generates more confidence. Then boom, almost overnight the rates are jolted upward, there is a feeling,of uncertainty. C s and busi who have lived through interest rate spirals before suddenly get a very chilly feeling in the feet. The interest rate spike felt late last week is frustrating for Canadians because with high unemployment, virtually zero inflation and overall slow growth in the economy, there is no reason for the rates to go up. Our economy doesn't need cooling off. It needs a kick-start, a shot in the arm, and low, stable interest rates could have helped do that. Perhaps the optimists will prove to be right after all--that this is just a.short term "hiccop," and in a few weeks the rates will ease downwards again. Let's hope so. Canada needs another round of volatile lending rates like it needs the Bloc Quebecois. We also need governments to get their own fiscal homes in order and soon to protect the Canadian dollar. For the average Canadian thinking of taking out a mortgage or buying a car on credit, it is crazy that interest rates spike when some banker in Tokyo or Zurich gets skittish and starts dumping Canadian dollars. Can this country of 25 million people not come up with a "made in Canada" interest rate that would give at least some kind of protection and stability to consumer and business borrowers? - advertising ales: " hy y " : 15 over 12,000 homes and businesses N 36 WATER ST, PORT PERRY, ONT. LIL1J2 in and around Scugog uomship. Phone : (905) 985-6397 Fax : (905) 985-1410 Subderiptions sald outside Scop Tonle. period of volatility these days, and there are a great many | THE DEFICIT NEXT ELE | THINK WE CAN ELIMINATE AND WIN THE "IM THE CHESHIRE Cow... WELCOME TO THE ADVENTURES OF BOB Newly elected MP tells what he spends on his What I would like to discuss this week, since it's the end of the fiscal year, is how I've spent 'jour money running the offices: in Oshawa and Ottawa. Reducing the cost of government, and moreover practising what we preach to reduce costs, has been one of my goals. Between Oct. 26,1993 to Mar.32, 1994 my operating budget is under the allotted amount by $5,000, which works out to $12,000 annually if the ; government had been in power for the entire fiscal year. Not much some might say but it's your money returned to the Canadian I've purchased five new computers for the offices at a cost of $16,800 for all five. And I still have a $5, 000 11 for purchases which I haven't used. Because we turned our campaign headquarters into a constituency office, as a cost of $7,600, we didn't have to pay rent from November to March. We begin paying Aprill. Next year we won't have these capital expenses for computers and renovations since they are ti nl at taking the train to and from Ottawa. The train is not only but gives me time to write letters and take care of other fact this column was written while traveling to Ottawa on the train. 8o little time is wasted using the rails. Between my staff and I, we have developed one of the most cost-effective and efficient offices of any MP which we hope is serving the taxpayer well while 'saving tax dollars. Since going to Ottawa I haven't found out where the barbers or shoeshine people ply their trades. 1 use the gym occasionally, and Ottawa and Oshawa offices from time-to-time. It's close my office andthe price of a iol lunch is no different! you could purchase Durham. 8till there is the question of why the cafeteria runs a deficit. I... think it's due to wages paid staff' under civil service agreements and not the price of the sandwiches. { As said, reducing the 'cost of government while delivering service remains the goal in Ottawa "and here in' the constituency. Every MP has a contribution to make towards that goal. I demonstrated I'm making a difference after my waistline, perhaps 1 should use it a little more. It costs $100 annually to use the facility. Now the infamous parliamentary cafeteria. I use it pending your money. If you have any questions, or need any help please call me at T11570 or in Uxbridge 1-800- 565-4105. My office is your office. Denise House 10th anniversary Please join us in celebrating The Denise House Tenth Arpirey with dinner and a Consequently, if "these equipment or $70,000 for the fiscal yoar that could have been returned to the treasury. In addition I have saved taxpayers $250 per week by Fe ker on Tuesday, April « 56 1060 The Denise House is a shelter for abused women and their children. The event will will be 'held at the General Sikorski Polish Veteran's Hall, 1651 Stevenson Road Oshawa. A reception and cash bar starts followed by opening U5 § a remarks. Dinner is at 7:00pm. The guest speaker is Carol President of the Canadian Olympic Association. She will be speaking about Women + - High Tech People in a: High Tech Society. Dinner tickets; cost $40.00, For more or for tickets, please call 728-7311, Monday through Priday, 8:80am fo "opm. Lh