BC’s Coal Mining Has Failed to Deliver, Finds Report
The coal mining proponents promised a veritable bonanza of $250 million in corporate taxes for the government. But the mines only delivered a paltry $86 million.
It also took governments a long time to reap any benefit from mountain top removal. “Not only were corporate tax projections aggressively overstated, corporate tax revenue did not begin accumulating until 2017, a full decade and a half later than initially predicted. Up to 2016, net corporate tax paid was zero.”
The three coal mining projects didn’t deliver on the job front either.
Their proponents promised 583 jobs but only 59 per cent (346 jobs) ever materialized. “That is, forecasted employment overstated actual employment by 1.7 times,” said the report.
Allan said the report’s findings should be intently studied by Albertans because the Kenney government has become a brash advocate for Australian coal miners and their speculators.