Thursday, January 13, 2005

Newfoundland and their whining

So Newfoundland is whining because the feds won't let them keep all of their oil revenue. They say it's their's blah blah blah. CBC just showed viewer comments and one lady from B.C. says something like "it's theirs so they should get to keep the cash". Here's a clue lady, because you obviously don't have one.
If our confederation worked that way there would be next to no infrastructure anywhere but Ontario. That's why there is something called Equalization. You know, that plan where Ontario gives and everyone else takes? The one where Quebec somehow always gets a better deal than everyone else? Sound familiar yet?
The truth is that your province - (B.C.) - is in line for over $800 million this year. Where do you think that money comes from? It comes from us - Ontario. More recently Alberta has joined us in contributing to equalization, but for the most part we have been sharing the wealth all along, mostly on our own.
Now, we look at Newfoundland and some recent equalization history. Between 1994 and 1998 Newfoundland recieved over 40 cents in equalization money for every dollar in provincial revenue. So basically, for every dollar Newfoundland took in, Ontario gave them another 40 odd cents.
So now I think it is self explanatory why Newfoundland should not be able to keep all their oil revenues to themselves. After being on the tit for so long you would think they would show some gratitude towards those of us who could have more if not for equalization and the idea of sharing the wealth.

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