Quote:
Originally Posted by RougeUnderoos
Yeah, I gotcha. And the price of the one commodity we rely on so heavily collapses and the whole thing went to $hit. These piddling things you list would have barely moved the needle, if at all (or are completely irrelevant) and we all know it.
I get the need to blame someone, and I understand the anger (this affects me too) but let's be honest here. We would be in exactly the same position no matter who was in power right now.
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This is not true in the least. A prudent government with even the smallest concept of how investment markets operate would have dropped corporate tax rates alongside the collapse in oil prices and immediately deployed capital spending as a stimulus.
Instead we have a government that seems to believe increased operational spending will suffice as a stimulus and is dithering on releasing funds for Calgary's new LRT line. They instated a corporate tax increase that will not result in higher revenues but is disincentivizing investment in the province. We are currently seeing companies moving capital to other jurisdictions and not just in oil and gas. Furthermore, they've implemented policies that are resulting in increased inflation despite a pronounced decline in fuel prices.
In fact, the depressed oil & gas market may have saved us from several of the more ridiculous proposals in the NDP platform, namely a punitive royalty regime, rent controls, and
rumblings indicate they may be backing off from full implementation of a $15 minimum wage.
Not that I would expect anything else from this government, which is really a coalition of union officials and ideological fools. They are doing exactly what they said they'd do in their platform and we can't fault them for that. Unfortunately it amounts to doubling down on the failed PC policies of the last decade.