— | TAREE LUTE | 1 oe |

October 21, 1987
40°

Vol. 50, No. 39

Demand grows for federal election
before gov't signs free trade pact

CR

Commonwealth sanctions
resolution applauded

The hope of
perestroika:
Fred Weir

— page 8 —

CLRA using
Bill 19 Tal \iC ase

“i for new

concessions

The British To overnment of
er p ag € 12 seats Margaret Vente ui handed a
resounding defeat when the Com-
monwealth conference in Vancouver
resolved to maintain and extend sanc-
tions against the racist government of
South Africa, a leading member of the
anti-apartheid struggle declared Sat-
“urday.

African National Congress execu-
tive member Johnstone Makatini
praised the Canadian government for
the pro-sanctions stand it maintained
during the conference, while agreeing
with local anti-apartheid activists that
Ottawa must be pressed to impose

Placards spelling out ‘Sanctions now against South Africa highlight anti-
apartheid march in Vancouver Saturday.

When BCRIC share prices collapsed
amidst the economic crisis in the B.C.

The results of the two privatization

By SEAN GRIFFIN ace were oni Aihara eae

Second in a series

Ten years ago, when British Prime
inister Margaret Thatcher was still the
8rocer’s daughter vying for the leader-
Ship of the British Conservative Party,

share at least one common denomi-
nator — a host of investment dealers,
stock brokers and merchant banks who
benefitted immensely from the sale of

resource industries, many of the thou-
sands of people who had bought $487
million worth of shares lost virtually all
their investment.

complete sanctions on South Africa.

He was addressing a rally in Van-
couver on Oct. 17, the day the Com-
monwealth heads of state conference

see THE SHARE page 6 ended with a near-unanimous decla-
ration to continue boycotting eco-
nomic trade with the white-ruled

nation.

Only Britain voted against the dec-
laration by the rest of the 47 Com-
monwealth leaders, on the grounds
— contested by all other delegates
— that sanctions would have no
effect on Pretoria. Britain enjoys an
approximate $2.5-billion annual im-
port-export trade with South Africa.

“So I’m happy to say that Margaret
Thatcher has been defeated,” Maka-
tini, in town for the Commonwealth
conference and a parallel conference
of anti-apartheid groups, told the rally
on the Vancouver Art Gallery steps.

Some 300 participants in the “free-
dom march and rally” moved from
Victory Square through downtown
Vancouver for the rally, organized by
local trade unionists, members of the

see TOUGHER page 9

then B.C. premier Bill Bennett brought public assets.

together a select group of investment
brokers to form a study group to con-
Sider the best way to launch the biggest =
Privatization program ever considered n S « cr e d ' an cS e en
Y a provincial government. The plan e ay [
they were working on, then still secret,
Was known as “Project West.” =
7 Two years later, the Social Credit The Social Credit government has area aa pene thoghiaboutts pes:
} 80vernment — inspired by a proposal ing privateer eae a result of the dramatic plung Pp

Made her of neo-conserv- es around the world. ;
a — launched ae Minister Mel couveet. a Tuesday en ie ices S
the now-infamous B.C. Resources In- program — currently being developed by nisteorergne Spee a penn és e
| Vestment Corporation share giveaway phen Rogers, with action expected by the en is month — wo elaye
Scheme. because of the uncertainty of the stock market. : eae 2s

In 1979, shortly after the Tory He said that the government would have to be sure of “the strength of the market

ne into office in Bri- it could proceed. -
Ss areca privati- ee market dive has also thrown cold water on the British ape ee: s oh
Zation program. Ironically, the inspit- _ privatization of British Petroleum. Share sepicetons eae going ou 2 = Seek ut
ation for it was also drawn from Milton —_ hanks were worried that small investors might pee uy s ana se & thedeeli
: tiedman’s essay which suggested that prices, A postponement — previously unheard of — was g ;

the government should sell off public
) Companies, not in a piecemeal fashion,
but lock, stock and barrel.
>