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‘"Because there was so little in the budget of substance, there‘s not a lot to say," added Neil Richardson, who chairs the chamber‘s government affairs committee. Tom Rooke, viceâ€"president of the Waterloo Regional Labour Council described the budget as "pretty uneventful". Federal finance minister Michae! Wilson presented the country with a "stand pat‘"‘ budget last Monday, a Waterloo Chamber of Commerce spokesperson said in an interview with the Chronicle. Richardson also noted that Wilson did not announce the second stage of tax reform as some expected. To date, reforms in personal and corporate taxes have been announced, and Wilson has been negotiatâ€" ing with the provinces to overhaul the sales tax system. "If he‘s not reâ€"elected, there‘s a great risk that sales tax reform won‘t happen or won‘t happen as he envisions it," said Richardson. "It didn‘t do anything for the working man. Since the P.C.‘s have come in power, all we‘ve done is pay more in taxes. You‘d think they‘d have done something about that." ‘"There was little of serious impact for Waterloo businesses. Our concern is more what wasn‘t in the budget." "Now would be a good time to make an extra effort to pay down the deficit". Of particular concern for the chamber is the federal deficit, which Wilson plans to hold at $29.3 billion. Richardson said that Wilson should have taken the opportunity to reduce the deficit, citing the extra revenues collected this year because of a booming economy in central Canada. Wilson, in a speech to parliament that trumpeted the government‘s economic record, predicted continued economic growth. Richardson is more cautious. "There are a number of economists predicting less growth than he is. "Likely, we are coming to an end of our continuous economic prosperity and we‘re bound to have a downturn in the near future." That prospect concerns Richardson, who notes the Wilson budget "hasn‘t set aside any reserve" for harder economic times. lan Kirkby Chronicle Staff PAGE 10 â€" WATERLOO CHRONICLE, WEDNESDAY FEBRUARY 17, 1988 Budget will have little impact on local businesses cce â€" Free Startâ€"Rite Kit value $66.95 120 King St. S., Waterloo Portable Personal Word Processor PWP & Federal Finance Minister Michae! Wilson needs another cent a litre on your gasoline fillâ€"ups starting April 1. Wilson was criticizec? by business groups for not reducing the $29.3 billion budget deficit. Labor was unhappy at Wilson not reducing the level of taxation on lowerâ€"income earners. 886â€"7 310 lan Kirkby photo CThe deficit for this fiscal year, which ends March 31 is projected to remain at $29.3 billion, despite increased revenues from a booming central Canadian economy. CThe government will shift the collection of federal sales tax to the manufacturers level on a wide variety of snack foods and consumer goods. This will result in marginally lower consumer prices on these goods. Highlights of the federal budget include: CThe federal excise tax on gasoline and aviation t:uel will rise by one cent a litre to 6.5 cents on April F We * & Deliver c , _ fulies, *. R FLOWERS & GIFTS 170 University. & @@pGDuous a0couUpuregs IBM* COMPATIBLES C)The maximum child care expense tax deduction _ 90 A staff of accredited counseliors specialize in a wide range of semvices mamage and family therapy. teacher stress in work and home. separation and divorce and treatment of childhood abuse Mediation and personal finance counselling also available Group therapy oo oUprd _ SOUTHERN ONTARIO COUNSELLING & Ww ®© informal low cost du:: __noon till 10:00 p.m. 7146â€"2323 Highlights from last week‘s budget FLOWERS & GIFTS * p 170 Un 4 * @ beside U or w Juble 884â€"3616 Reinharat Â¥ _ We‘re in the WHITE pages _/ anytime will shift the collection of CThe predicted deficit for each of the next two he manufacturers level on a _ fiscal years will be under $29 billion yearly. By : foods and consumer goods. _ 1993, it is predicted to drop to under $20 billion. marginally lower consumer (ClGovernment departments will be asked to trim l 2 $300 million from their planned spending in 1989â€" The First 25 customers get a free box of Goldstar Disks (with a purchase of 10 or more) Specials run Feb. 10th to Feb. 29th OPEN 9â€"6 MONDAYâ€"SATURDAY At University Shops Plaza II 170 University Ave. W. 746â€"2450 BM GOT THE FEBRUARY COMPUTER BOOK & SUPPLY CENTRE registered trade will rise to $4,000 from $2,000 and the refundable child tax credit will be $659 this year and $759 in 1989. CTotal spending will rise to $132.3 billion in th: 1988â€"89 fiscal year from $125.3 billion in the current fiscal year. Revenues will increase to $103.3 billion from $96.1 billion. FEBRUARY SPECIALS Selected books and software from 10% to 25% OFF IBM models 25 and 30 â€" 50% OFF S o es 5en 25% OFF in stock ribbone l@l‘ mark of International Business Machines Corporation NS