Welcome to Newfoundland

"The Canadian mining industry is not off to a good start in the 1993/94 budget season. Of the five provinces and territories to table budgets as of March 31, 1993, the industry's scorecard shows: one win, one tie, and three losses.IntroductionBy the end of March, five of Canada's twelve provincial and territorial governments had tabled their 1993/94 budgets. The mining industry is off to a bad start. The industry's scorecard shows one win, one tie, and three losses. Only Newfoundland appears to be paying any attention to the industry's concerns about the impact of taxation on competitiveness. It is particularly disconcerting to see that non-profit based taxes continue to increase, at a time when these taxes are the focus of a united attack by the entire industry.NewfoundlandFirst, the good news. On March 18, 1993, Finance Minister Winston Baker announced the following changes to the province's mining tax regime:"