Crosbie, The Honourable John C.
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An address a few weeks prior to the presentation of the first budget of the new Conservative Government. A discussion of the general economic stance that will be taken in the coming months by the government and, in particular, the government's position on interest rates. The course that has been adopted by the Bank of Canada. Canada's economic difficulties. Long-term solutions. The form of the change in policy. Problems of inflation, budgetary deficit, the imbalance of international trade, energy supply and distribution. The reasons for the high level of interest rates. Controls on consumer credit and exchange. How to reduce the deficit. Success will involve hard work, cutting back, and putting off real increases in our standard of living. The importance of restraint and self-discipline.