Anti-Inflation Board

Anti-Inflation Board, established by Act of Parliament in late 1975 to administer a wage-and-price-control program. Although the program was phased out during 1978, the AIB did not cease all operations until 1979. Because of its examination of company profits, close to $323.1 million was returned to the marketplace by hundreds of companies. The wide-ranging mandate of the board was highly controversial; it examined auto, fuel-oil and gas prices, Bell Canada employee wages, insurance premiums, beef prices, etc. The board's consequent recommendations resulted in rebates, wage rollbacks and price increases. Amendments were made to the Anti-Inflation Act to ensure that prices and wages did not automatically jump when the control period (and therefore the AIB's recommendations) came to an end.