ge

Speaking to a meeting of
“campaign ‘workers Monday
- evening, North Vancouver-
Burnaby Liberal candidate
* Gordon Gibson called the
Joe Clark scheme of mor-
tgage interest deductibility
“probably the most
- misleading and irresponsible
economic promise made by
a major political leader for a
generation.” .

)

The Clark proposals, said
Gibson, would allow the
deduction: of | ‘mortgage
interest from taxable income
up to a limit of $5,000 an-
nually, and up to $1,000 of
municipal’ taxes. The effect
would be lof no use to those
with low income and no use
- fo renters or those without
‘mortgages. It would give up
to $3,600 per year in reduced

Stephens

FROM PAGE 1

Cook agreed that he had
- written a. personal and
confidential letter- to
Stephens last fall expressing
reserve about offering
Stephens assistance, in a
provincial election while he
(Cook) was still a federal
candidate endeavoring to
win the North: Van-Burnaby
seat.

Relevant passages from
the letter, which Cook read
“at his Monday news con-
ference, included the
following: 4

“As a federal candidate in
the election this coming
spring, I am not in a pdsition
to be too outspoken on the
issues of provincial affairs....
as you are aware, a
tremendous number of
Social Créditers vote and
work for
candidates in the federal
election and then have
nothing to do with them in
the provincial field.

“I have been warned and
advised by many people
working On my campaign
that [ can only offend and
lose support by having
anything to do with .... a
provincial election at this
time. Frankly, it is almost
outright blackmail...

“Unfortunately, I must
take the advice given to me,
and try and maintain a
coalition of Social Crediters
and Conservatives to ensure
election. Therefore, any
help, succorance or aid that
I can offer you and the
provincial (Tory) party will
have to be on a very quict
basis.”

Cook told the news
conference that he respected
Stephens as an MLA’ and
provincial Tory leader. In
view of Stephens’ character
as a man of honor and cthics
he (Cook) had felt entitled to
write to him on a personal
and confidential basis. In
those circumstances he also
felt that Stephens could not

Conservative -

taxes for those with’ very

' high incomes.

Clark claims the proposals
would have the. impact of
making housing ‘more af-

se pee Wea

1

has not increased United
States. home ‘ownership _

their. percentage is almost.

identical ‘to ours, and Clark

conveniently fails to mention

fordable. and stimulating the
housing industry. Gibson’
says that there is very little ©

truth in that — certainly not
$2.8 billion worth. a

“The next problem i is that
-Clark’s plan is unfair,”

all right,”
“They- would be existing.

that.”
“There’ would-be winners
declared Gibson.

_ homeowners. in. high tax
‘brackets atid the banks. The

Gibson ‘said, “Thirty-seven —

percent of Canadians are
renters and would receive no
benefit. Low income
households would recely
little benefit. Clark says th
Americans do it. The United
States has had this: kind of

plan for 50 years and would.

dearly love to get rid of it.
They see it as, a, definite
upper income plan. And it

losers would be the ordinary
Canadian.”

“Joe Clark's —meitgage
interest scheme would wreak

havoc in the rest of the

ay

economy with high interest |

rates and shortages of funds,
until the market stablized at
amore costly level. We need
job-creating investment, not
churning -around imaginary
personal gains for political
benefit,” said the Liberal
candidate.

‘honorable n man’

release any part of the text o:
the letter to the press or
public.

Cook told the press that,
when a provincial and
federal election occur
simultaneously, it is not
practical for the federal
candidate to deviate from his
main task of getting elected
to Ottawa. He also recalled.
that, for many years, it had
been common practice for
provincial Socreds to vote
Tory in federal elections. He
saw nothing unusual in this
because the basic objectives
of both parties at the federal
level were the same - the
preservation and =  en-
couragement of a free en-
terprise economy.

“My interests are federal,”
declared Cook. “I am part of
the team that will remove
Pierre Elliott Trudeau from
office. My interest is in
winning this election in

* North Vancouver-Burnaby.”

Later the same day
Stephens, in a second press
conference of his own,
commended Cook for

|

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acknowledging that his
(Stephens’) information on a
Socred-Tory non-aggression
pact was correct.

Commenting on the
Stephens-Cook exchanges,
Jack Davis, provincial

Socred candidate in North

Vancouver-Seymour, said:
“I have. no knowledge
whatever of such a Socred-
Tory ‘plot’, nor can I
imagine such an
arrangement:’His provincial
Tory opponent, ‘Joy
Gilmore, expressed regret
over the situation, but ad-
ded: “Nevertheless, I still

support Chuck Cook 100 per
cent in the federal election.”

THE
HEART FUND

y

‘Capilano
. ‘Association.

challenger i in
Capilano -

A - Liberal challenger. to

Ron Huntington at.the May’ .

22 federal election has
emerged in the person of
West” Vancouver lawyer
David Finlay, who- was
nominated last week .by..the
Liberal

Finlay, ‘who has lived in
the Capilano riding for over

' 10 years, is chairman of the

Waterfront Ratepayers
Association. He has bee
active both in local politics
and inthe Boy - Scouts
Association. —

Married with two
children, he holds a depree
in apricultural economics
and currently practises
commercial law.

In his nomination
statement Finlay laid strong
emphasis on Canadian unity
as a key issue in the current

~ DAVID FINLAY...“unity” man

election ‘campaign: - He.
‘pointed out that unity affects
the economic situation and
claimed that the decline in
the value of the Canadian
dollar was coincidental with |
the rise of Quebec
separatism.

In the 1975 fedeal election
Progressive - Conservative

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-Ron Huntington defeated —
Liberal Jack. Davis, at that
time a federal. Liberal
cabinet minister, by over
5,000 votes.

4
Also running against
“Huntington in the May 22

election is NDP candidate
Michael Kartnon.

j, RET AESEESESTEELEEELT EEE

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