The Canadian Treasury says it aims to get everyone to pay a "fair tax burden", but reports a significant plunge. We have not promised an energy company a tax increase of . Consumers feel pinched by gas pumps.
The ministry's statement sharply criticizes UN Secretary-General Antonio Guterres for making a profit at the expense of the poor. it is continuing. On Wednesday
Wednesday, Guterres said that the world's top energy companies earned $ 100 billion in the first quarter of this year, their profits were taxed, and then. The most vulnerable people in difficult times said they should be used to help.
He recently joined another person who accused oil companies of taking advantage of global supply shortages to increase profits and infuriate consumers.
"This grotesque desire punishes the poorest and most vulnerable people while destroying our only common home, the planet. "It's done," Guterres said. “The moment we all lose money, we see the excessive scandalous benefits of the oil and gas industry.”
See | UN Secretary-General Requests to tax oil companies' "excessive profits"
The government is on the "grotesque desire" of oil and gas in the world UN Secretary-General Antonio Guteres, who should be taxed, said he would help businesses during this difficult time and use the money to help vulnerable people.
The day after Guterres' comment — he didn't pick any company — Suncor Energy Inc. announced 3.99 million in the second quarter of 2022. Reported $ 10,000 in revenue. , More than 4.5 times the $ 868 million earned in the same period in 2021. When asked if Ottawa was considering higher taxes on such profits, the Treasury pointed out instead. Other federal tax measures include a permanent increase in the corporate tax rate of profitable banks and the introduction of a luxury tax on private jets and luxury cars over $ 100,000. included.
"We have promised to ensure that everyone pays fair taxes," the ministry said in an email Friday.
NDP says additional income should go to ordinary Canadians
New Democratic financial commentator Daniel Bryky said The "excess profit" of an era when the federal government said there was "absolutely" a place to tax rent, food and gas "when it comes to affording, people are really under the gun."
"I saw the British Conservatives do this for Pete," Britain said last month on a 25% storm tax on Britishoil. Said referring to the passage of. North Sea gas producers
Blaikie suggested that profits could be diverted to increase GST tax credits and Canadian children's allowances.
This money can also be used to extend the 2021 increase to the payment of old-age protection for seniors aged 64-75. This currently applies only to seniors over the age of 75.
Former Parliamentary Budget Officer Kevin Page said that taxable profits "make it work for our enhancements." I agreed. Social safety net.
Correspondingly, energy companies may argue that tax increases would be an unreasonable burden for industries trying to recover from the global plunge in energy prices in the early stages of the pandemic. Said.
"These are tough trade-offs that we want our political leaders to worry about," Page said.
Industry states that Ottawa is benefiting from increased loyalty
The Canadian Petroleum Producers Association (CAPP) declined the interview, but commodity prices The royalties said in an email that the rise in the federal government would lead to a surge in the federal government.
"Canada expects royalties collected from its four oil and gas states to increase by 283% year-on-year," the association said in a statement. Income tax, local tax, corporate tax remittances, and mineral rights auctions were cited as additional pools of government funds flowing from the oil and gas sector.
Increasing production from democracies like Canada will help lower consumer costs, CAPP added.