October 28 federal budget's focus on energy—portent for mining?
CIM Bulletin, Vol. 74, No. 825, 1981
ROBERT D. BROWN, F.C.A., and ROBERT B. PARSONS, C.A. Price Waterhouse & Co., Toronto
The mining industry may have survived the October 28 federal budget relatively unscathed, but the same certainly cannot be said of the petroleum sector—and many mining men are left wondering if their industry will be the next one to be singled out for special attention, as federal and provincial governments seek additional revenues and pursue nationalistic or provincial policies.Higher taxes, higher prices, a potpourri of "incentives", and a "Cana-dianization" policy mark the principal features of the new National Energy Program released by the government along with Finance Minister Mac-Eachen's budget address.This month, Tax Notes examines the federal budget, with appropriate emphasis on the National Energy Program and its possible future implications for the Canadian resource industries.