Lougheed, The Right Honourable Peter
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The need for a reassessment of current Canadian monetary policy and its relationship to interest rates. Some economic decisions Canada is facing over the next few months. Three main options and a number of related policy issues to be considered. Making a case for the second option and if not accepted, then for the third. First, a review of some major economic issues as they exist in Canada today, with particular reference to the implications of the slower pace of Western Canadian development as well as the energy scene as it appears from today's perspective. The degree of real concern over the extent of foreign ownership of the Canadian economy. Support and encouragement from Alberta for a larger Canadian ownership interest in oil and gas. The National Energy Program. Investment confidence in Canada. Current budget and monetary policy. High interest rates; curtailing inflation: a discussion of the situation in Canada and the United States, looking at various influencing factors. The public sector's share of the Gross National Product. Highlights of the energy scene in Canada. Damage caused by the National Energy Program. Recovery of the oil and gas industry in Western Canada. Factors discouraging the exploration industry in Western Canada. Initiatives for recovery. Some figures. The Alberta economy. Canadian prosperity and unity dependent upon co-operation between the federal government and the provinces. Recent events showing the interdependence between the regions. A summary of a number of economic directions which should form part of Canada's future national economic strategy. Another look at Canadian monetary policy and its relationship to interest rates. A closer look at the three options and a detailed discussion as to the speaker's choice. Canada's future.