Thursday, May 18, 1967

government remained in office during our Centennial year that figure would in fact have been one hundred million dollars.

Walter R. Shaw: You took a great jump from yesterday didn’t you?

Honourable Alexander B. Campbell: Mr. Speaker, the Guardian newspaper of this province reflected a report on the budget presented by the Provincial Treas- urer this year in the headlines, “Deficit Financing Continued.” There may be a point to be made here with respect to the public understanding of our finances in the province because the public was led to believe, Mr. Speaker, that there were sur- plusses accruing each year over the period of the last five to seven years. They were cute; two years ago the former Provincial Treasurer went on television for fifteen minutes following the presentation of his Budget and talked about surplusses and surplusses, and he talked about ordinary account, and honourable members opposite have even suggested that there were surplusses last year and the year before. And while, Mr. Speaker, Provincial Treasurer’s have, in fact, budgeted for surplusses on ordinary account the province has had to go into the “red” to finance the capital expenditures necessary for highways and construction of various types. Now this year our Provincial Treasurer has budgeted for a surplus on ordinary account of $270,000.00. However, the deficit on Capital Account, which has been running at approximately the rate of $5,000,000.00 a year under the previous government, has been reduced by more than one-half in the estimates for the forthcoming year.. . .

L. George Dewar: Wait and see.

Honourable Alexander B. Campbell: . . . .to $2,431,927.00. The Opposition have suggested that this will be doubled. I hope they are wrong, Mr. Speaker; they do too because they know this province cannot continue under the former practise of adding year by year the tremendous debt to the provincial economy. This province cannot afford it, Mr. Speaker, and ways and means must be found to curb this spend- ing spree. It has been a year for reassessment of our financial picture. It is also a year of reassessment, Mr. Speaker, of the role of this province, the province of Prince Edward Island, in regional Canadian development, and I believe, Mr. Speaker, that we have reached the time now in Federal-Provincial Conferences, we have reached an age of maturity as Prince Edward Islanders, and we are quite capable of working with the Federal Government in determining ways and means of measuring, guiding and directing the development of this province. the economic, social and cultural development of this province in the future. And so, therefore, we invite joint Be- gional development where the provinces sit at the same table as the federal govern- ment in making the major and important decisions. And where prior consultation is the byword rather than the exception. This is the spirit in which we will proceed in the direction of the development of the economy of this province where federal policies and federal assistances are available to us.

I think, Mr. Speaker, it is also a year of reassessment of the co-operative efforts of all Atlantic Premiers, governments and provinces. We have read recently. Mr. Speaker, of the announcement by the Premier of New Brunswick, Premier Robi- chaud, for the establishment of a New England - Atlantic Provinces Regional Econo- mic Consultation Board. And I understan , Mr. Speaker, that Premier Stanfield of Nova Scotia has given qualified support to this proposal. Mr. Speaker, these sug- gestions have much potential merit. It 0 ens up the possibility of larger markets; it makes it possible to remove the tarif barrier which has effectively limited the degree of processing done in Canada, and articularly in the eastern section of Canada. We can think of the fine paper an the fish sticks as two items of pro- cessed goods which use the raw roduct in Eastern Canada, and which is shipped raw to the processing plants of ew England. We trust, Mr. Speaker, that these benefits may come our way, and we welcome the recent decisions of the Kennedy Round, as they have been called, and we will support any effort, as a Government, in Prince Edward Island for freer trade and for the removal of the tariff barriers which have retarded development in this area behind over the past century.

Mr. S ker, in regard to the Regional Consultation Co—o ration as ro sed by the Premi’gof New Brunswick, and while it has the governmel’aft of PrincepEgu-d

Island sup rt for the reasons I have outlined, I think that there is a more urgent matter an potentially rewarding possibility within the Atlantic region itself. This does not mean Maritime Union, or anything like it. The possibilities of political

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