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Originally Posted by Ducay
Oil & Gas was already slumped when NDP took office and then kicked them while they were down with the royalty review and then poor support for pipelines until too late. Both of these effectively killed capital investment in our province and, in turn, revenues for every company that executes on those billions and billions of capex that went elsewhere.
NDP is directly to blame for the reduced tax revenues.
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Quote:
Originally Posted by DiracSpike
Geez calm down obviously there's other stuff happening, but they instituted it one year into the price drop so that was already baked in. I'm just saying higher tax rates don't automatically equal higher revenues.
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Corporate investment doesn't turn on a dime. Royalty review certainly didn't help, but very unlikely it was the make or break on many projects. Same for the 2% tax increase. Both are lame excuses for decreased investment that was 99% inevitable. The 2% at least helped mitigate this inevitable loss a bit.