Provincial Sales Tax Concept
April 24, 2007 - 8:15 am
By: Kevin Usselman
The question being posed by the Canadian Association of Petroleum Producers is what's more important the environment, or the economy.
Vice President, Greg Stringham says curbing oil sands development would dramatically reduce government revenue. Stingham says, “This year alone, the province is collecting 3.7 billion dollars in royalty payments out of the Tarsands, which is the same amount of money a 6 percent sales tax would generate.”
Stringham adds a moratorium on future expansion, would further erode revenue, which in turn could boost that sales tax number to the 10 to 15 percent range. He says, “People really need to think things through before reining in growth”.
Environmentalists counter that no amount of money is worth the long term damage posed to land and wildlife in the area, by letting things proceed unabated.
http://www.660news.com/news/topstory...24_081527_3248