MGT, FOR ALEC LSE NOP SES ote EE STATS RON TLDS WO

Bank staff tried to
aid victim of scam

Dear Editor:

N. Christopher Howard in his
letter in the Sept. 30 News (“Banks
can help nab swindlers") wondered
if Royal Bank staff did everything
they could to dissuade an elderly
client from withdrawing $6,000
from her account. Our client, it
turns out, was a victim of a very
slick scam artist.

1 would just like to assure Mr,
Howard that our staff did every-
thing they could under the circum-
stances, including counselling and
advising our client before she made
the decision to withdraw the funds
and suggesting other alternatives to
cash such as preparing a bank draft

Taxes and
more taxes

Dear Editor:

I came home today and found
my hydro bill, as usual, delivered
right on time.

1 opened it io find the usual
amount owing plus that annoying
transit tax.

After taking the time to read the
little explanations accompanying
the- miscellaneous charges, I real-
ized I was getting charged 7% GST
on the “Regional Transit Levy.”
So, let's see if I’ve got this right: !
am paying tax, on a tax! This isn’t
the least bit amusing.

- Someone please tell me that this
systematic, covert robbery will
stop. .

Paul Bouman
West Vancouver

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Stop trucks
An open letter to the Hon,
David Schreck:

North Vancouver District's
ban on large vehicles for
Capilano and Lillooet roads
has now been sent to the
Ministry of Transportation
and Highways for approval,

This is a very popular
bylaw, and we hope that it
will be supported strongly by
our local representative.

Wm. P. Goddard
North Vancouver

or certified cheque.

Despite our best efforts, our
client demanded her funds and, of
course, we were in no position to
deny what was rightfully hers.

When something so tragic hap-
pens to one of our clients our staff,
too, share in the feclings of pain
and frustration.

Harry Bensier
Royal Bank
Area manager, North Shore

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8 (NORTH
4 Hearing tests will be given at the
@ Beltone Hearing Aid Centre on
&§ Monday to
10:00 a.m. to 4:00 p.m.

Wednesday, October 12, 1994 — North Shore News - @

For Senior Citizens

VANCOUVER) ~

Thursday from

Anyone who has trouble

BH hearing is welcome to have the
m test. Many people with hearing
H problems don't need hearing
g vids. But only a modern hearing
Rtest like the one now being
B offered by Beltone can really
Mf tell for sure.

Everyone should have a

8 hearing test at least once a year

- even people now wearing a ff
hearing aid or those who §
have been told nothing could
be done for them. Only 2 &
hearing test can determine if
modern methods of hearing §
amplification can help them §
hear better. :

The hearing tests will be J
given Monday to Thursday from §
10:00 a.m. to 4:00 p.m. in North &
Vancouver. In-home testing is #
also available. :

Please phone for an ff
appointment.

DVA TAPS CARDS ACCEPTED

BRA

& YEUneg
OUNDS OF LEFE
Call: 988-4477
#217-1940 Lonsdale

NORTH VANCOUVER (Next to London Drugs)
Govt. Licansed Hearing Instrument Specialists and Audiologist Registered Under the
Hearing Aid Act B.C.

Ted White, M.P.

#302 1200 Lynn Valley Rd.
North Vancouver

V75 2A2

Telephcne: 666-0585
Fax: 666-0509

NEW ZEALAND AND DEBT

When people learn that | immigrated

i from New Zealand | am often asked

f about the 1984 debt crisis and whether

the economy has recovered. | parsonally

think there is a lot we can learn from the

7 New Zealand experience so | have.

H monitored the situation since 1984. Here

f is a quick update on what you may have

i seen In the W5 television program about
New Zealand's debt crisis.

7 TOTAL DEBT DOUBLED

Even with International Monetary
§ Fund assistance it took ten years to
f eliminate deficit spending. In that time
| New Zealand's debt doubled from $22

billion in 1984 to $46 billion in 1994.
However, this year the Government
had a $600 million surplus, forecast a $2
billion surplus for next year and
promised tax reductions in 1996 ifNew
f Zealanders refrain from demanding any
f expansion of government services and
f programs.

The lesson for Canada is that even if
jwe had a debt crisis tomomow and
E immediately began implementing severe
f budget cuts under IMF direction, our
Btotal debt could double to over a

TRILLION DOLLARS by the year 2004.
i We would then be paying at least $100

billion por yoar fn Interest on our:

i debt. Growth in the economy would

4 reduce the relative size of this Interest

1 burden but it would be close to 100% of
prasent fecterai tax revenues.

WORKPLACE ISSUES

Collective bargaining and secondary
f picketing tights for unions in NZ were
legislated away after the debt crisis so
that the marketplace could set wage
f levels. Also, cuts to social programs
forced paople to accept any job
f offered whan they fost their Ul or

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welfare eligibility.

Productivity at my brother-in-law's
small furniture factory in Auckland sho!
up 17.5% following the tabour law
cnanges. The union now bargains only
wevrolacea safety - and workplace
conditions, not wages. Workers are
hired, fired and paid based on individual
performance rather than on length of
service or union seniority.

Although the unions opposed
changes to the labour laws it was
international lenders who were setting
the agenda, just as they would do hers +
under similar circumstances. When a
country runs out of money to fund its
daily operations it must comply with the
demands of those prepared to fund its 4
recovery from bankruptcy. .

WHAT ABOUT NOW

| visited New Zealand iz: August of §
1993 with three other businessmen to |
took at “New Zealand ten years after the
debt crisis". We saw the beginnings of an |
excatiant recovery In tha economy and
how, a year later, things are booming. §

Unamployment has. dropped to |
about 7%, companies are profitable,
government revenues are higher than
forecast, and there is a growing fesling
that the worst is over. The economy F
appears to be on a solid base for |
survival as @ strong free market trader.
Gone are subsidies for business, |
farmers, and special interest groups.
Most government services are on a user
pays basis.

New Zealand today Is a FREE §
ENTERPRISE country, very different 3
trom tha country | left fifteen years ago.
Studying what happened there could
better equip us to handle a Canadian
debt crisis should we also fail to gain j
control of government spanding.

Caranc

rH] ;
J Norgate Pl. (near Canadian Tire) « Tel: 980-8813