RE:RE:Remember the NEPpinecone11 wrote: >Justin's father tried to implement a very unfavorable and politically driven NEP, remember how that worked for him, and what it did to Alberta. Any windfall tax should be looked at as an immediate call to oust the existing government here in Canada.<
Quebecers say "We may hate Alberta's oil production, but we'll still happily take Alberta's money."
Equalization is just one more way for the Federal government to exercise control over Provincial resources. The system of EQUALIZATION PAYMENTS drawn from the most prosperous provinces and paid to those with per capita incomes below the national average was devised in the mid-1950s as a method of asserting the constitutional importance of the federal government after Quebec Premier Maurice Duplessis had forced the federal government of Prime Minister Louis St. Laurent to recognize the co-equal right of Quebec (and other provinces) to assess income taxes. All provinces have since asserted that right. Although Quebec has been prudently fiscally managed and is only marginally less prosperous per capita now than the average of other provinces, it still receives straight cash transfers from other provinces of $1,562 in 2020 for every one of Quebec’s over 8.5 million citizens. Much of this comes from Alberta, which has been put at a disadvantage because of the present federal government’s war on that province and on the oil and gas industries. The equalization payment formula also enables Quebec’s state-owned hydroelectric authority to discount the cost of electricity to Quebecers, effectively at the expense of the equalization payment-contributing provinces. Conrad Black: Bill 96 marks the beginning of the end of Canada (msn.com)
Good point pinecone 11, I didnt know near enough about the NEP so researched it and read up. Interesting times thats for sure. Thanks for the reminder of those times and no one should underestimate Justin and what he's capable of. I would bet the farm he's already reviewed the past NEP initiated by his dads government and so we all need to be aware and ready ourselves for a response.
GLTA