Wow!. $4.25 billion from the wireless spectrum auction. Yippee!
That’s almost enough to cover 5 years of foregone taxes from the LBO of BCE! Or 2 years of foregone taxes from the government induced income trust takeovers to date.
Maybe the CONs can follow the Green’s proposal. Instead of stopping the LBO of BCE to fully fund the RESP as the Greens proposed, the Cons can use these proceeds to help parents pay for their childrens’ university education for the next five years. Maybe that way, some brighter kids can start entering law school and we can stop cranking out Jim Flaherty’s and Jim Prentice’s. You know what they say about law schools: Garbage in Garbage out.
Gov't still to decide what to do with $4.25B haul from spectrum auction: Prentice
50 minutes ago
EDMONTON — Industry Minister Jim Prentice says the federal government has yet to decide what to do with a $4.25-billion windfall from the just-completed wireless spectrum auction.
He says Finance Minister Jim Flaherty has indicated that paying down the national debt and reducing taxes are Ottawa's priorities.
Prentice says the sale of 105 megahertz of wireless spectrum was a tremendous success and will change the country's cellphone industry forever.
He says the auction was conducted to create more competition in the cellphone industry so that services to Canadians will improve and costs will come down.
Companies that bought spectrum are likely to put it to use and not hoard it, says Prentice, because the licences only cover a 10-year period.
Tuesday, July 22, 2008
Posted by Fillibluster at 12:42 PM