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Originally Posted by Fuzz
That's the thing, though. We've been doing that for years. And now interest rates are rock bottom, and capital projects would help with employment and the economy. So now is actually the time to be doing them. You wither borrow money against the future, or you defer these things further, and borrow against future infrastructure failures, that cost more in the long run.
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Agreed. Capital spending serves a purpose of building needed infrastructure while it's cheap, and keeping people in a hard-hit sector (engineering and construction) employed. And it's not a long-term annual commitment.
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Originally Posted by Resolute 14
Serious question, actually: What other jurisdictions "act like adults" and remove all of their resource-based income from their budgetary processes like this?
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Quote:
Originally Posted by GGG
Alaska
Norway
Saudi Arabia
Most of OPEC -- although recently as their extraction costs went up and there security costs went up haven't been.
Alberta under Peter Lougheed from 1972 to 1987.
They each do it to varying degrees.
Essentially any jurisdiction that builds a sovereign wealth fund.
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Not to mention all the places in the world that don't have resource royalty bonanzas, and fund government strictly through taxes and fees. Time to wean this province off the royalties teat.