OTTAWA (Reuters) - Flaherty, speaking to CTV television, said it was a "good thing" that regulators were reviewing the [Suncor/Petro-Canada] deal l to ensure fair competition in the oil industry, but added that, "We believe in investment as well in this country. We want to grow this economy."
How does a share for share takeover of Petro-Canada by Suncor amount to "investment"?
Meanwhile Flaherty conveniently avoids speaking about the resultant job losses?
Nor does Flaherty talk about how he decimated investment in the energy sector with his income trust tax that killed the 20% of Canada's energy sector held in royalty trusts?
Apart form the 31.5% tax itself, how does imposing growth constraints on income trusts, as Flaherty did, help to "grow this economy"?
Flaherty also conveniently ignores that his income trust tax was the sole cause for Prime West Energy being acquired by middle eastern Abu Dhabi Energy and TransAlta Power being acquired by Hong Kong billionaire Li Ka Shing.
Why are Canadian investors penalized when it come to investing in Canada and foreign investors are not? Is this the kind of investment that Flaherty prefers in our energy patch? Foreigners over domestic investors?
Meanwhile where is Flaherty’s proof of tax leakage? Does Flaherty not believe in transparency or government accountability?
Tuesday, March 24, 2009
Posted by Fillibluster at 10:50 AM