“Unexpected tax” unacceptable
The Canadian Press – June 8, 2022 / 11:44 | History: 371301
Photo: The Canadian Press
Alberta Energy Minister Sonya Savage announces extension of coal mining restrictions on the eastern slopes of Alberta in Calgary on Friday, March 4, 2022. THE CANADIAN PRESS / Todd Korol
Alberta’s energy minister says anything resembling the so-called “extraordinary tax” in the UK on the profits of oil and gas companies should not be implemented in Canada.
Recently, the UK imposed additional taxes on oil and gas companies, which are making record profits in 2022 due to very high commodity prices.
The Extraordinary Tax is designed to help fund cash payments to help millions of British citizens cope with rapidly growing energy bills.
Similar programs are being considered in other countries. Recent news reports quoted a senior White House adviser as saying that the Biden administration is actively looking at what an extraordinary tax could look like.
But Alberta Energy Minister Sonya Savage says that if Canada took similar action, it would be considered an “extreme act of aggression” against provincial constitutional authority.
The Trudeau government has not proposed an extraordinary tax on the oil industry, although some environmental groups and nonprofits have publicly called for it.