Probably the bit that seems most relevant to me would be:
"the mining community should prepare to get actively involved in the review process in order to ensure that its concerns are heard and accounted for in any revision to the provincial mining tax regime."
Without being overly political, its still obvious there is a political choice or two that Ontario will need to make, including whether "budget deficits" mean, as politicians are generally want to assume, that "we need more revenue" rather than "I guess we're spending too much ?".
Ontario has been reducing income taxes... ? Interesting. That approach appears it has been working fairly well in keeping Ontario and Canada "ahead of their peers" in the global economy, the last few years, even making Loonies appear much less looney these days than the next door neighbors alternative is.
I'll be surprised if they opt, as Australia has done, to take the relative advantage they have working for them now and convert it to something that delivers a result much closer to the global average in the experience of economic pain. I don't see much evidence, now, that the tinkering they're talking about is likely to be near the sort that may be having the scale in the seismic impact as the Aussies have imposed.
I did find it interesting to note that the magnitude of the Aussie's massive mining tax increase is expected to produce revenue that is roughly equal to the entire output of the mining industry in Ontario... and that Ontario's own budget shortfall is close to 1/3 larger than that, still.
Find it somewhat surprising that I don't see more discussion of whether the Aussie's tax increase is really a "tax increase on mining" or a "tax increase on China" ?
In a vastly more entertaining view of the same issues seen, after the fact, in relation to the Australian tax changes being implemented, and the potential in the future political implications for them....
Looks like the Aussie's do appear to pride themselves on "going big"... even if the rather overly bombastic approach means they'll be making "really big mistakes"... ?
I don't get the impression that many in Ontario share much of the penchant for that sort of bombast...
FWIW, my opinion on these issues is still basically unchanged... including that just because someone thought it was really "a good idea" back in 1912... doesn't mean "it's still a good idea". I think that likely applies equally as well still to ship design as it does to the design of regulations governing mining and banking.
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