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A % } ay TL dE ATR ml AEST "Scugog's Community Newspaper of Choice" PORT PERRY STAR - Tuesday, January 21, 1992 - 3 MP says Ontario hit hard by recession, but more working By Scott Anderson This recession has been tougher for central Ontario, than during the previous reces- sion, says Durham MP, Ross Stevenson. During the recession jn 1981 and 1982 Ontario didn't suffer as much as it has this time around, Mr. Stevenson said. Adding the peak to trough peri- ods have been more severe in the 1990s. ar | Ross Stevenson, MP But despite tough economic times for Ontario, and Canada, he says more people are work- ing. He said employment is up, and more people are working in Canada this year, than there were a year ago. - Although there are more peo- ple working, there are also more people on unemployment. Ap- proximately 10 per cent of the workforce is urlemployed. ir Mr: Stevenson was address- ing the Brooklin chapter of the Progressive Conservative Party at'its annual meeting in Colum- bus ondan. 15. + Mr. Stevenson's talk and sub- sequent question and answer period focussed primarily on ec- onomic issues, including the debt, the Goods and Services Tax, and Social Services. Mr. Stevenson says the mon- ey derived from the new GST is being used solely to pay off the country's debt. He says by the fiscal year of 1994-95, the coun- try "will have a balanced bud- get" and "from that point on, Canada will have an opportuni- ty to pay down the debt." The MP says it will be neces- sary for Canada to pay off its debt by the year 2017 to 2020, when many of the baby boomers will be nearing retirement age and eligible to collect pensions. In the next 20 years, Mr. Ste- venson says the days of retiring at age 65 "will be over." He says many of those eligible to retire will find it necessary to work longer. Companies with market re- search capabilities have al- ready picked up on this and are starting to place seniors in jobs which teens were taking in the 1980s. By the year 2000, Mr. Steven- son figures the population will start to level off across Canada. He says there won't be as much of a need for the big ticket items such as homes, furniture and appliances. But he says it won't be the case in Ontario as the popula- tion will continue to grow "as people want to live here." As a result of the growing numbers of people on old age se- curity and the depleting work- force, he says "changes must be made - depending on how the public feels." These changes could include people working past retirement, increasing the number of immigrants into the country, or a population boom through natural birth. Mr. Stevenson said a total ré- structuring is needed to stem D. J. TAYLOR INSURANCE BROKERS LTD. 169 North St., Port Perry L9L 1B7 Guaranteed Investment Certificates (Rates Subject to Change without Notice) PHONE 985-8416 < 180 Mary Street Port Perry 985-9948 Large selection so come early for great deals. Cash or cheque on items over 50% off. these problems before they get outofhand. "We're playing catch up right now and it's not very fun paying the piper," he said. 7 1 BE BI ity & 'ROYAL BANK EFFECTIVE JANUARY 29, 1992 New Thursday Hours will be 9:30 am -- 6:00 pm 210 Queen Street, Port a } Tel: (416) 985-7318 Fax: (416) 985-0741 pr 4 4 4 <4 < men's, women's and children's NOW at 1/2 price plus an additional D no ENTREE regular, petites and full sizes Now price; plus 10% off. ' | [ an additional 'FASHION CLOTHING HATS, MITTS, GLOVES etc. uiiim Bg SAHA HANT 4 selected items re Tn Is fe Queen St, -- vn Nv? wwe. eer Pott Parry