4 Teébrace Review — Wednesday, December 24, 1986 -

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Member's Massa 2:

Research and Development (R&D) is the very lifeblood of the future. Our ability as a country to keep up with technological and scientific breakthroughs is essential to maintaining economic progress and, pro-

sperity. We need only look at our mining industry as an

example.

by Jim Fulton, M.P. (Skeena)

New ceramic technology threatens to dislodge our mineral products from the international marketplace. Large American and Japanese multinationals have developed ceramic replacements for many of the metal parts in cars. The field of ceramics extends to insula- tion, manufacturing, construction and electronics; so much so, that the Science Council of Canada warns: “The only way to guarantee survival and success ... will

be with major research and development investments

now.”

Far from accepting this advice, the Conservative Minister in charge, B.C.’s own Frank Oberle, has ordered a new round of cuts to the National Research Council. Two hundred of our top scientists will soon be out of work and encouraged to find employment in the United States. By 1990, some 500 scientific positions with the National Research Council (NRC) will have been put on the block.

The cuts to the NRC show just hew distorted the Mulroney government’s priorities are. The NRC project that produced one of Canada’s best and most widely ac- claimed advances — the Canadarm — has been eliminated. At the same time the NRC will continue to

funnel money into the development of an American.

space station.

Canada is already behind other developed countries. The Council hasa staff of 3,000. The research council in France, a country with twice our population, employs 24,000. While Mulroney cuts back scientific develop- ment in Canada, Japan is in the process of building 76 new laboratories in the field of microelectronics alone. What’s at stake is not whether we can save dollars by cutting the budget of the NRC — we can and should do that by rearranging the spending priorities and cleaning up an unfair tax system.

Research and development ensures that we are keep- ing pace with the world and that we are not losing out on new job opportunities, It’s a challenge.

Letters to the editor will be considered for publication only when signed. Please

Editor's Quote Book

include your phone number. The editor You give but little when reserves the right to you give of your possessions,

condense and edit letters. Opinions expressed are not necessarily those of the Terrace Review.

It is when you give of your- seifthat you truly give, Kahlil Gibran

—S = FOAM

— fais +f, . AV ay b Ls4=

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“This is neat, we don’t have to bother going south no more”

Beating the taxman by helping small business

If you’ve got some spare cash kicking around and are looking for a good investment, the provincial government has just the deal for you.

Hubert Beyer Terrace Review Victoria Correspondent

It’s called the Venture Capital Program, ‘a scheme designed to bring together small investors looking for a good deal and small businesses in search of equity capital.

Under the terms of the program, investors sink whatever money they can come up with into venture capital corporations, special-status holding companies which, in turn, reinvent the money in a variety of small businesses throughout British Col- umbia.

The attraction to the potential investor is a 30 percent tax credit, a cool $3,000 on a $10,000 in-

vestment, not a bad way of keeping hard-earned money in your own pocket and out of the hands of the taxman, while helping small businesses raise start-up or expansion capital.

The program is ad- ministered by the govern- ment’s economic develop- ment ministry, headed by political oldtimer Grace McCarthy. -

According to McCar- thy, the idea-of the private sector pooling its capital isn't the only important aspect of the program. Equally significant, she says, is the fact that the small business sector is willing to give some ownership in return for equity capital.

“The result is a signi- ficant amount of new in- vestment dollars being available to small business as the venture capital cor-

porations raised their capital,’’ the minister said.

Since the program was put in place a little more than a year ago, 32 ven- ture capital corporations have raised or are in the process of raising a total of $35 million: “

Bob Kennedy, one of the ministry people involv- ed in venture capital pro- gram, says the first year has been very encourag- ing. | ,—

“The program’s success:

compares very favorably with: other provinces that have similar programs. And the experience else- where has been that it real- ly takes off in the second year,’’ Kennedy said.

The money raised by the venture capital corpora- tions is reinvested in a broad spectrum of small businesses, ranging from aquaculture operations to furniture factories, from hotels to high tech com- panies,

International Lodge Whistler (VCC) Corpora- tion, for instance, has

continued on page 5

Terrace Review

Established May 1, 1985 The Terrace Review Is published each Wednesday by Close-Up Business Services Ltd.

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Cabinet. |

i

seeks public

advice

A committee of cabinet ministers headed by Social Services and Housing Minister Claude Rich- mond will hold regional hearings during the first

- two months of 1987 to

gather public opinion on the direction the govern- ment’s social services policies should take from now until the end of the century.

Eric Denhoff, an infor- mation spokesman for Social Services and Hous- ing, said recently the nor- thern regional hearing will take place in Prince George Jan. 30. Presiding at the hearing will be the cabinet Social. Planning Committee, consisting of the Attorney General, the Provincial Secretary, and the Ministers of Social Services and Housing, Health, Finance,’ In- tergovernmental Rela- tions, Labour and Educa- tion, or the designated representatives of those ministers. ;

Denhoff said the pur- pose of the hearings is to gather public input ‘‘in order to assist the govern- ment to chart social policy course for the end of the 1980’s and through the 1990’s’’. The Prince George hearing will take one day, and Denhoff said during that period the committee expects to hear about 12 briefs.

“The committee is seek- ing briefs that concern broad social policy areas, not specific complaints,” Denhoff said.

Any material to be entered on the agenda of the meeting has to be sub- mitted to the cabinet secretariat on or before Jan. 15. Individuals or groups preparing briefs on social policy in B.C. for the hearing are instructed to send them to the Parlia- ment Building, Victoria, B.C. V8V 1X4. ~

In court

In Terrace ’ Provincial Court on Friday, Nov. 21 David Sallenback was fin- ed $25 for an offense under the Liquor Control and Licensing Act.

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On Friday, Nov. 21 in Terrace Provincial Court Ajit Sandhu was jailed 14 days and put on probation for three months as a result of driving while his

ability to drive was im-

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