Lithium in SK, Part 40: In depth with Energy and Resources Minister on new lithium royalty scheme.
Consider this: if lithium production is successful and ends up with a billion dollars in revenue per year, that would result in only $30 million per year to the province.
Brian, it is plenty. What would government do with the money? Something stupid, wasteful or useless if past is prologue. It also does not consider the income taxes, sales taxes, excise taxes, fees, and every other way the government collects off of any economic activity, in the case of Canada, the Province and municipalities it’s a wonder it isn’t all gone.
Bingo, give Peter a cigar!
And a hearty slap on the back.
> if lithium production is successful and ends up with a billion dollars in **revenue** per year, that would result in only $30 million per year to the province.
Attention Canadians: Revenue is not profit.
Tell that to CRA!
Oh, let us do your taxes automatically, because FOCUS….
If royalties and their close cousins Superroyalties were a good idea, that mastermind of economic bliss, Mr Dave Barrett , would still be Premier of B.C.
Royalties are much like tariffs against mineral development.
lithium . . . . lithium . . . . .
ah yes: https://www.mayoclinic.org/drugs-supplements/lithium-oral-route/description/drg-20064603
better get that mine started because Canaduh is headed for ‘a heap of trouble’ and mental disorders for the masses is on the . . . . . agenda?
There are lots of cheaper lithium plays out there. Take a bit of revenue on the extraction and then encourage value added processing.
Just a question and a thought. Is a product such as lithium subject to provincial sales tax? That would be an additional 6% on top of all the PST on related activities. It’s not peanuts. However , I agree with Peter – it is just likely to disappear into the abyss.
An addendum to my earlier. Royalties are the worst form of “revenue” for government, they see it as a non tax pot of money and immediately grow to consume it all and more, and when the royalties run out, does the government shrink back to match the missing “revenue”? When pigs fly. Shithole.