Thank you, Mr. Chairman. Mr. Chairman, the arrangement we have with the federal government, the formula situation we were facing, the work we were doing, we've kept Members informed of our situation. Of the corporate tax rates of our arrangement with the federal government, when the information came to us about the changes in revenue, we informed Members as soon as I got the information within a matter of days. So it is frustrating in a sense that from one regime we set up under had changed. Again, in allowing our changes to occur and having impact on the rates and working with the federal government, there's a timing factor that comes into play there, but it's not until we actually get our results back from previous year's filing and working with the federal government that we could take a look at the situation to see if, in fact, we did need the change, and we did identify the amount of revenue drop to Members. Again, it was a combination of the corporations refiling their tax, as well as a loss in actual revenue. Now that could be a number of reasons; one company, somebody is not being as profitable as they were the previous year, or of moving their profits to other jurisdictions. Thank you.
Floyd Roland on Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 28th, 2006. See this statement in context.
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
February 27th, 2006
Page 1449
See context to find out what was said next.