NDP insist they won’t scare away oil industry

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NDP leader Lorraine Michael was once again on the defensive regarding her party’s plans to pay for its election promises by applying new taxes to the oil industry. “It’s one of the wealthiest industries in the world, and as a matter of fact, I don’t think we tax them enough,” Michael said yesterday in an interview with the CBC. “The oil industry is so large, so big, that you’re not getting people that are speculating when they’re doing their exploration. They know what they’re doing,” Michael said. The NDP has been under fire for saying it wants to add a petroleum surtax of three per cent, which is expected to turn over $68 million in revenues to pay for expanded social programs.

Source: CBC