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New Year begins
with new Cabinet

’ British Columbians are starting

the new year with a slightly altered
provincial government Cabinet. For
the time being these are the people
in charge of the various portfolios
into which the B.C. government
divides its business.

Premier — William Vander
Zalm. |
Advanced Education, Training
and Technology — Bruce
Strachan.

Agriculture and Fisheries —
Harry De Jong.

Attorney General — Russell
Fraser.

Crown Lands — Dave Parker.

Education —— Stanley Hagen.

Energy, Mines and Petroleum

’ Resources — Jack Davis.

Environment — Cliff Serwa.

Finance and Corporate Rela-
tions — Mel Couvelier.

Forests — Claude Richmond.

Government Management Ser-
vices and Women’s Programs —
‘Carol Gran.

Health — John Jansen.

International Business and
Immigration — Elwood Veitch.

Labour and Consumer Services
— James Rabbitt.

Municipal Affairs, Recreation
and Culture — Lyall Hanson.

Native Affairs — Jack Weis-
gerber.

Parks — John Savage.

Froestry Insights —

continued from page AS

to say Bugs...”

"What I’m trying to say," Herby
interrupted. "Is that we've done
everything
cient as possible... ‘Thirty-five
dollars a metre amounts to us
subsidizing the pulp industry! It'll
kill us!" ee

"Look," said Weevil, sniiling for
the first time. "By 1992 Europe
isn’t going to be buying anything
but kiln dried lumber anyway.
Check it out. I already have.

"It will cost you between three
and four miltion to add a dry kiln
to your plans, you can operate it
with that 4.5 million cubic metres
of hog fuel you would otherwise
sell at cost, and it will add about
twenty-four doliars per cubic metre
to your lumber and your value
added products will rise from
about $260 per cubic metre to
around $310, Also, because your
products will be lighter, your ship-
ping costs will drop from $6 per
cubic metre to about $4.50.

"Put that in your report and
smoke it.”

Squish wasn’t prepared for this.
"We can investigate the situation
and play with those numbers," he

PS
“for “thirty-five dollars: a metre.

we can to be as effi- .

Provincial Secretary — Howard
Dirks.

Regional and Economic
Development — Bud Smith.

Social Services and Housing —
Norm Jacobsen.

Solicitor General — Ivan Mess-
mer.

Tourism — Cliff Michael.

Transportation and Highways

— Rita Johnston.

There are few changes from the
previous Cabinet. Cliff Serwa
came up from the back benches to
take environment after the resigna-
tion of John Reynolds. Stan Hagen
moved from regional and econo-
mic development to take education
from the retiring Tony Brummett,
and Bud Smith, who resigned
under scandal as attomey general,
returned io replace Hagen. Ivan
Messmer moved from parks to

take solicitor general, where Russ.

Fraser had been doing double duty,
and John Savage moved into parks
from agriculture and fisheries. He
was replaced by back-bencher
Harry De Jong. And James Rabbitt
came up from the back benches to
take labour and consumer services
off Norm Jacobsen’s hands. Jacob-
sen had been doubling in that
portfolio and social services and
housing. -
Got that?

w

eat om.

They make fifty-five dollars a
metre; we lose something in excess
of twenty-five dollars a metre. It’s
just not fair."

"Fair?" Weevil shot back. "Grow
up man. It’s the way the world
‘turns:It keeps the economy of this
province buzzing:: You want to

reorganize the structure of the-

entire industry? Impossible!"
Milton could see it was time to
retreat. Weevil’s stand was solid;
Herby’s was falling apart. "Thank
you for your time Bugs... And
your information,” Jovial offered.
"Herby. Let’s go. Work out these

new numbers for me and we'll see

where we stand."

With this, they left.

Weevil showed no concern as the
pair departed, but as soon as they
had, he was on the phone to his
deputy minister. "Frank? [ want a
report on the volume of pulp chips
exported annually from B.C. pulp
mills. And I want more feedback
from the industry as to their posi-
tion on the need for a guaranteed
source of supply.

"| may need to quiet a small
storm."

agreed. "But it doesn’t really .

address our concern. Regardless
of what happens to lumber exports,
we're still going to be losing $7.35
million in chip sales every year.
And that’s our moncy.

"And another thing, you know as
well as I what pulp mills do with
excess chips when there’s a
downturn in the market. They
export them... For ninety dollars “a
cubic metre. The same chips they
bought from operations like ours

Taproot to treetop
Stump to dump
You'll find the best

forestry coverage in the
region in the pages of
the
Terrace Review

The Terrace Animal Shelter Is host to
female mallard. The wild bird, found at the
wing but it is now believed it’s just a bad bruise.

released and on it’s way.

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fore

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Terrace Review — Wednesday, January 9, 1991 A9 .

an unusual guest during our current cold snap — a
foot of Lanfear hill, was first thought to have a broken
When the weather warms a bit, the duck will be

Statistics Canada tells us
that, collectively, the Canadian
debt load has increased 10 per-
cent this year over last and ac-
counts for approximately three-
quarters of our disposable in-
come. I have done some fur-
ther investigating and offer
what I hope are some interest-
ing insights into our attitudes -
and a couple of ways to take
control of debt.

The use of credit, particular-
ly credit cards, has broadened

considerably over the last 20> ;

years. Today, 60 percent of -
Canadians hold at least one
credit card. Entrepreneurs and
professionals account for the
most dramatic increase in the
use of cards. Their use is up 13
percent from last year.
~ Convenience is the driving
force in our growing use of
credit cards. They are a useful.
payment facility even with cash
available on almost every ¢or-
ner these days through automa-
ted banking machines. Interest-
ingly, almost 70 percent of
credit card users pay off their
balances in full each month,
giving them the use of the
credit facility interest free.
Gallop conducted a poll in
March to find out what is
currently on our minds.
Twenty-five percent of Cana-
dians said that money is their
main worry. I see a lot of peo-
ple every day and financial
peace of mind, whether real or
imagined, is invariably on the
list of things we discuss.

Peace of Mind

So how do you free yourself
of money worries, especially at
times like these?

First, take a look at what re-

nar

Your money,
your chotce_
TAKE AN INTEREST IN

Gordon Oates,

volving credit is costing you.
Most people shop for a credit
card on the basis of interest
rate, but how-many of us tally
it up on a monthy basis?
There’s a fairly simple way to-
do it which is also a help when
you're checking entries on your
monthly statement. ;

Using a cheque record book-
let which most banks supply
will save you enormous
amounts of stress. If you simp-
ly enter each cheque as you
write it, you will have a handy
and complete list of all your
chequing activity. Why not give
yourself the same record of
credit transactions?

Each time you make a pur-
chase on a credit card, record it
as if it were a cheque purchase,
making a note of what card
you used —- Mastercard, Visa,
travel and entertainment, de-
partment store, oil company or
others.; You can refer to your
record, instead of piles of
receipts, when the various
statentents come. However,
hold on to your receipts as
proof of purchase.

The value of this type of re-
cord is that you can add in a
flash with a pocket calculator
what you have spent on all
types of credit for each month.
If you go back to your monthly
statements, you can take the
cost of interest off each one,
and again, with the help of a
pocket calculator, get a quick
fix on what this credit costs
you.

Ideally, the credit available
on cards is best suited to pur-
chases you expect to cover fair-
ly quickly out of current in-
come. Leaving large balances
on such cards is an extremely
expensive way of financing
your purchases. You'll get a

er oe ce a ce

A regular feature of the Terrace Review on
consumer finance by

Terrace branch, Bank of Montreal

CREDIT...

better appreciation of how
you're managing credit when
you start tracking your pur-
chases monthly. If you see that
large ticket items ($300 plus)
appear regularly on your credit
card spending record, you may
wish to look for a less expen-
sive way to borrow.

Consolidate — ae

fot

In a period of unpredict
high interest rates, it may be
wise to take stock of your out-
standing debt and consider
whether you would be better
off controlling it with a single
loan, You may have four or

five credit cards, some with --- .

user fees and interest rates —
ranging anywhere from 14 per-
cent to 28 percent. The cost of |
carrying all of them will tell
you whether you would gain
more peace of mind by simply
taking a single loan and paying
off all your balances.

This doesn’t mean cutting up
all your cards, Some may be -
necessary to you every day such
as oi] company cards for the
car. However, you may want to
reduce the use of credit for
other purchases. A loans of-
ficer can go over your outstan-
ding balances and rates of in-
terest and tell you if you would
be further ahead by combining
them into a single loan.

Interest rates on personal
loans are high at the moment.
But, a number of financial in-
stitutions are offering attractive
rates even as low as prime.
And, consider this: if rates
come down, as we all hope
they soon will, you can take a
new loan at the lower rate, pay
off the first loan and get even
greater savings from consolida-
tion,

ably

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