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SUB full , Canary eestment an Stan- riginally eveloper slop the zs east of trick in ninto fi- 7, O&Y project. al Gower, first lene ith. sold its ad retail e, Fla.. to nts, not dis- ynsists of ith about staul and « Luuder- privately ners Wil- avid, Wihetasred Hatta bey rented The doubts about whether economy grew in the second quarter underscore the sense of Crangadaty about the recovery aller a yeur-lony recession, Phe unemployment rate was at 6.4 per cent in July. down from 7 per cent m Jung only because many dis- couraged workers left the labour Force, At the same time, the number of jabs outside farming fell by a steep $1,000, The recovery — u there is onc — Oe — Source US Duptl of Commerce hus been spotty, with some renions luring much worse (han others, ace cording to a U.S, Federal Reserve Board report issued this week, Some economists, surveying the lucklustre data, cven say that the United States could drop back into a recession after a brief spurt of growth. Trying to ensure thal the economy comes out of the downturn, (he Fed- Sag dette oe WAIN ay the deamon cd Te ae meee Oeparunent — - ons an »dyanceesumate of GNP. (n making its caleulauion, the oe. partment had lo project figures bor consirucuon, (rade and iiventorics for June because those data had nol been released. And now, some of those estimates look too optumistc. If figures released last week on construction and business inven- ‘ortes and exports ddr lo make things even! ing, the GNP estimate > lease on Aug, 28 wont merce Department's 1: the subject. That will or liminary estimate.” The final GNP figure out until late Septent then will analysts kn: whether the economy & expanded in the secon and whether the recesot Lael Uys i" 20-per-cent ceiling suggeste Realtors urge Ottawa to allow use of RRSPs for home buying Canadian Press OTTAWA -— The Canadian Real Estate Association has refined its proposals for using registered retire- ment savings plans for down pay- ments on homes and says it’s time for the government to move on the program. “We've undertaken extensive re- search which demonstrates conclu- sively that a sizable group of mod- est-income renters have significant RRSP holdings,” association presi- dent Bill Hopkins told a news con- ference yesterday. In the 1987 tax year, about 300,- 000 people with incomes between $27,000 and $49,000 had more than $954-million in RRSPs, the associa- tion said. The proposals, which the associ- ation began working on in 1989, are supported by Conservative back- bencher Alan Redway, the former federai housing minister. “The problem, of course, is how can we actually promote an increase in home ownership in the country without at the same time increasing the deficit or incurring other Costs to you and [ as taxpayers.” Mr. Red- way said. “Ttcan be done by using registered retirement savings plan funds for down payments for home purchases. I've long been an enthusiastic sup- porter of this concept,” he added. A spokesman for the federal Fi- nance Department said its officials will closely study the proposals. A recent Angus Reid survey indi- cated 75 per cent of respondents ¢x- pressed strong or moderate support for a program that would allow use of RRSP funds for home buying, Mr. Hopkins said. “Basically, it recommends that RRSP funds held by the prospective home buyer be permitted to acquire a share of equity in the property,” he said in describing the proposal. The remaining portion of (he house price would be accounted for d for RRSP equity ownership by other savings the home buver may haveanda regular mortgage. A couple could, for example. save $10,006 each in their RRSPs. They could invest the RRSP funds in a house valued at $200,000. The RRSPs would then own 10 per cent of the house. Banks and trust companies will accept down paymenis 4s low as 10 per cent but say 11 15 to the individu- al's advantage to have more than that. An independent appraisal would be done to establish a (air market va- jue for the property and for the RRSP share before purchase of ihe home. “We suggest there be a ceiling on the percentage of equity that can be owned by the RRSP, and 20 per cent seems very realistic,” Mr. Hopkins said. | “There would be a small tax pen- alty to the home buyer for the priv: ilege of earlier access to home own- ership through the RRSP.” Rulings Pocklin: $1.6-mil Canadian Pre EDMONTON -— Pete: and his companies P Ltd, and Edmonton O Corp. have been awar lion in two civil suit Edmonton contractor. Mr. Pocklington int tions before forecios properties that Geo owned through (ww Alberta companies. tents show, Mr. Pocklington gagee of the propertic On July 23, Alber Queen's Bench awarc lion plus court cost: $20,000 and $50,000. the court awarded $ court costs of betwee: $50,000. Mr. Whissell mad claim to the May I+ was dismissed. Public records she numbered companies cent owned by Mr. W MPANY NEWS in nand for vis forced Nfountain ‘e buck its d for Low ING a pipe- ried heavy . port point ised Wash- se project's 'S.) from us sold an- +300 air- ift Leasing company ‘Aree other Guelph, Ont. says it has been un- successful in its efforts to sell its wir- ing device operations, and so the op- erations won't be sold. The company said it will again include the wiring device operations in its consolidated financial statements. The operations had been listed as discontinued while the sale process was under way. Hagensborg Fish farmer Hagensborg Resources Ltd. of Vancouver says that in con- junction with the preparation of its statements for the fiscal year ended March 31, it has been decided to write down the company's inven- tory by S1.3-million. Duntop Aviation Dunlop Aviation Canada Inc. of Markham, Ont., a unit of Dunlop Holdings PLC of Britain, says it has acauired the assets of Aireraft Com- Puerto Rican milk ban protest BY BARRIE McKENNA Quebec Bureau MONTREAL — Groupe Lactel, a major Quebec milk producer, says the Puerto Rican government may have violated the Canada-US. free- trade deal by barring the sale of Lac- tel’s milk products there. Puerto Rico's health minister re- voked the company’s import licence for non-refrigerated milk on July 31. saying the product did not meet the norms of the U.S. Food, Drug und Cosmetic Act, Lactel said. “It's nota question of health. [Cs a commercial dispute.” Lactel spokesman Normand de Montigny said from the compan in Boucherville, Que. He said what Pucr cials are worried ab 40-per-cent share of U for URT. or ultra his milk. State-owned Lactel’s main compe Rico, Mr. de Montigr.