This is a terrible deal for Nova Scotians! NewPage will be around until the money runs out, period! Then what? This is vote buying in the Strait Region in it’s most shameless and baltant form. Hopefully the next time NewPage files for creditor protection or bankrupcy, we will have a new Provincial Government who are more responsible with “our money!”
The “deals” that are being referred to as questionable by one portion of our society have to do with welfare…which has become the ‘compassion’ (compensation?) of our times; it having been the awardings of our ‘majority’ in recent times.
There may come a day when, with taxation having become entirely unfair, that such redistributionism will become less fashionable. Then maybe we will discover that we are less cynical of our more “responsible” representation… .
It would appear that the former NPPH assets are being “sold” to PW for a negative value and since property/business tax is based on a value determined by a willing seller and a willing buyer the property taxes payable by the new firm should logically be zero.
That does not seem acceptable to Mayor McLean or the municipality.Strange when it is your ox that is being gored how equity changes.
I speculate that Dexter is hoping hope against hope that the CRA turn down the request for a favourable tax ruling.Then he wins politically and is of the hook for such an egregious economic undertaking.
In the future let us hope he will not venture down such economic paths that he is so ill prepared to travel
This NDP government is a bad joke in regards to picking winners and losers. Maritime Steels new owners need a mere 1 million dollars to secure huge orders involving one of the largest heavy equipment makers. Maritime Steel has not had 20 million dollars worth of land bought by the province or 3.5 million to market their product. Dexter and Company claim Maritime Steel is not a viable business despite the demand for MSL products. Mining , Ship building, railways all need Steel Castings . The global population increasingly is getting the printed word on an LCD screen. Paper production is a dinosaur industry.
Finally some one is starting to un-peel the onion of this deal . The government should be publishing all the financials here to show just who has what invested , but if they did , then taxpayers might see that for very $1 the buyer has put in , it looks like the taxpayer is maybe putting in $ 12-15 , now ask what the security the government has . No mortgage , no lien , so what happens if PW fails ?
This is a terrible deal for Nova Scotians! NewPage will be around until the money runs out, period! Then what? This is vote buying in the Strait Region in it’s most shameless and baltant form. Hopefully the next time NewPage files for creditor protection or bankrupcy, we will have a new Provincial Government who are more responsible with “our money!”
Sean Haire | August 29, 2012 |
The “deals” that are being referred to as questionable by one portion of our society have to do with welfare…which has become the ‘compassion’ (compensation?) of our times; it having been the awardings of our ‘majority’ in recent times.
There may come a day when, with taxation having become entirely unfair, that such redistributionism will become less fashionable. Then maybe we will discover that we are less cynical of our more “responsible” representation… .
gordon stanfield | August 25, 2012 |
It would appear that the former NPPH assets are being “sold” to PW for a negative value and since property/business tax is based on a value determined by a willing seller and a willing buyer the property taxes payable by the new firm should logically be zero.
That does not seem acceptable to Mayor McLean or the municipality.Strange when it is your ox that is being gored how equity changes.
I speculate that Dexter is hoping hope against hope that the CRA turn down the request for a favourable tax ruling.Then he wins politically and is of the hook for such an egregious economic undertaking.
In the future let us hope he will not venture down such economic paths that he is so ill prepared to travel
Bill | August 25, 2012 |
This NDP government is a bad joke in regards to picking winners and losers. Maritime Steels new owners need a mere 1 million dollars to secure huge orders involving one of the largest heavy equipment makers. Maritime Steel has not had 20 million dollars worth of land bought by the province or 3.5 million to market their product. Dexter and Company claim Maritime Steel is not a viable business despite the demand for MSL products. Mining , Ship building, railways all need Steel Castings . The global population increasingly is getting the printed word on an LCD screen. Paper production is a dinosaur industry.
paul taylor | August 25, 2012 |
Finally some one is starting to un-peel the onion of this deal . The government should be publishing all the financials here to show just who has what invested , but if they did , then taxpayers might see that for very $1 the buyer has put in , it looks like the taxpayer is maybe putting in $ 12-15 , now ask what the security the government has . No mortgage , no lien , so what happens if PW fails ?
PS | August 25, 2012 |
As well, the incoming government next spring, almost certain to NOT be the NDP, will inherit this deal and live with the consequences.
John Percy | August 24, 2012 |