The November 16 federal budget ? moderate stimulus for mining

On November 16, 1978, Finance Minister Chretien delivered his second formal budget in the House of Commons. Over-all, the provisions of the budget should provide moderate stimulus to the Canadian economy. With respect to the mining industry, the budget offers some welcome changes in the form of' improved write-offs for development expenses and social assets; higher investment tax credits; and a reduction in federal sales tax. On the other hand, income bond financing of new mineral ventures may be restricted.