Opting for Controls

October 1975
Time;10/27/1975, Vol. 106 Issue 17, p83
The article reports on the announcement of Canadian Prime Minister Pierre Trudeau in a 20-minute nation wide radio and television address, for an 8 percent wage increase and freeze on nearly all prices in October 1975. It mentions that the Trudeau scorned his opponents for urging burdensome wage and price controls and enforced what he called a stronger medicine to fight inflation which run at an annual rate of 12.7 % and is expected to reach 16% by year's end. American Can Co. and other corporations warned that if wage increases more than that in the U.S., they will build new plants outside the Canadian border.


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