Thank you, Mr. Speaker. Mr. Speaker, yes, the Member's memory and his comments are accurate about how he felt the decision we were making would have an impact. The impact that we've given, we've highlighted already in October. Now, the difference of our loss of corporate tax falls on two areas. One, the approximate amount of companies shifting where they would pay their taxes; two, probably more significantly, was how companies would refile their corporate income taxes. They have a three-year window where they can write off profits to previous losses so they can reduce the amount of corporate tax that they would pay, and that's what has hit us quite significantly in this fiscal year that we are in today. So it's not all about just having a higher tax rate; it's how companies can use the corporate tax system in their favour. What we've highlighted for loss for our corporate tax rate has been highlighted in the document that's going to be before Members for this year's upcoming budget. Thank you.
Floyd Roland on Question 328-15(4): Consultation On Budget Reductions
In the Legislative Assembly on February 3rd, 2006. See this statement in context.
Further Return To Question 328-15(4): Consultation On Budget Reductions
Question 328-15(4): Consultation On Budget Reductions
Item 6: Oral Questions
February 2nd, 2006
Page 706
See context to find out what was said next.