royalty rates

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In a historic election on May 5, Albertans rebuked the Progressive Conservative Party, which had governed the province for 44 years, and handed the reins of power over to the New Democratic Party, headed by Premier-elect Rachel Notley.

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If business leaders ever wonder why a chunk of the public disdain business and call for higher corporate taxes or sector-specific increases (higher royalty rates for energy and mining, higher stumpage fees in forestry) or just increased business taxation in general, here’s a clue: too many companies are addicted to corporate welfare.

Crony capitalism is problematic all on its own. Addiction to it only reinforces the perception that businesses can’t be bothered to compete on merit, in an open market, but prefer to plead for political favours and protection at taxpayers’ expense.