Ricki Bobbi Posted January 25, 2007 Report Posted January 25, 2007 So the anger over Radio Canada's inaccurate story will abate. Link. Energy revenue will be kept out of the equalization formula. So much for Radio Canada's false report. Us hinterlanders need to have a little faith... Quote Dion is a verbose, mild-mannered academic with a shaky grasp of English who seems unfit to chair a university department, much less lead a country. Randall Denley, Ottawa Citizen
Fortunata Posted January 25, 2007 Report Posted January 25, 2007 I don't think it was an inaccurate story. I think the Harper government leaked it to gauge reaction so they could adjust their policy if need be. Quote
geoffrey Posted January 25, 2007 Report Posted January 25, 2007 I don't think it was an inaccurate story. I think the Harper government leaked it to gauge reaction so they could adjust their policy if need be. It wouldn't be the first time a government did that... of any stripe. Quote RealRisk.ca - (Latest Post: Prosecutors have no "Skin in the Game") --
Leafless Posted January 25, 2007 Report Posted January 25, 2007 Speaking of energy revenue. Does anyone know if Quebec's hydro profits are included in calculation for equalization payments? Quote
jdobbin Posted January 25, 2007 Report Posted January 25, 2007 Speaking of energy revenue. Does anyone know if Quebec's hydro profits are included in calculation for equalization payments? No. Quote
Leafless Posted January 26, 2007 Report Posted January 26, 2007 Speaking of energy revenue. Does anyone know if Quebec's hydro profits are included in calculation for equalization payments? No. Then this is amazing. The way I understand it is Quebec hydro is nationalized and hydro generated power is not considered an nonrenewable energy resource in the same manner oil and natural gas is. Hydro revenue from Quebec's hydro resources is FUNNELED directly back into Hydro Quebec which the Quebec government draws from, similar to a bank account. This amount is NOT included in calculation for equalization payments simply because hydro is considered a renewable resource. If this amount was calculated into equalization, I doubt Quebec would have not be considered a 'have not province'. Quote
Fortunata Posted January 26, 2007 Report Posted January 26, 2007 Somehow it is all backwards. Renewable resources should be brought into the equation, after all, the income will be forever generated, or at least for a long time. Non-renewable resources are finite. Provinces should be able to pocket that money in it's entirety for the future as who knows how long it will last. Does this not make sense? Quote
geoffrey Posted January 26, 2007 Report Posted January 26, 2007 100% on the same page with you Fortunata. Quebec's exemptions on many grounds are ridiculous and founded more in vote buying than in reality. Quote RealRisk.ca - (Latest Post: Prosecutors have no "Skin in the Game") --
Ricki Bobbi Posted January 26, 2007 Author Report Posted January 26, 2007 Great point Fortunata. The Quebec hydro profits should be included in the formula. My guess is that Quebec would still be a have not province even if they were included. But not by much... Quote Dion is a verbose, mild-mannered academic with a shaky grasp of English who seems unfit to chair a university department, much less lead a country. Randall Denley, Ottawa Citizen
Leafless Posted January 26, 2007 Report Posted January 26, 2007 Non-renewable resources are finite. Provinces should be able to pocket that money in it's entirety for the future as who knows how long it will last. Never mind the fancy terminology non-renewable resources, as the fact of the matter is that ANY provincial resource that ACTS AS A REVENUE should be included pertaining to the calculations for equalization. The fiscal capacity of the provinces is determined from the measurement of 33 different sources. Personal income taxes Business income taxes Capital taxes General and miscellaneous sales taxes Tobacco taxes Gasoline taxes Diesel fuel taxes Non commercial vehicle licenses Commercial vehicle licenses Revenues from the sale of alcoholic beverages Hospital and medical insurance premiums Race track taxes Forestry revenues New oil revenues Old oil revenues Heavy oil revenues Mined oil revenues Third-tier oil revenues Heavy third-tier revenues Natural gas revenues Sales of crown leases Other oil and gas revenues Mineral resources Water power rentals Insurance premiums Payroll taxes Provincial-local property taxes Lottery ticket revenue Other games of chance revenues Miscellaneous provincial-local taxes and Revenue Shared revenues: Offshore activities/Newfoundland Shared revenues: Offshore activities/Nova Scotia Shared revenues: Preferred Share Division No where to be seen is ANYTHING associated with hydro revenues especially pertaining for export to a foreign country. Quote
geoffrey Posted January 27, 2007 Report Posted January 27, 2007 Oil companies pay taxes... the value added is taxed. The only thing not taxed is the provinces ownership of Crown resources. It's constitutionally out of the reach of the Federal government IMO. Quote RealRisk.ca - (Latest Post: Prosecutors have no "Skin in the Game") --
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