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Finance committee It would be very helpful to look at that option and compare the tax regimes. One thing the government has done in previous budgets is to note that we have to be competitive with the United States. So this is an area where we should look hard at their tax regime—not just their pub
May 21st, 2013Committee meeting
Richard Paton
Finance committee The U.S. has this 60% double-declining balance, as it's called, and it's in their tax code. We have a company right now that's considering a major investment. They're looking at the Gulf Coast where a lot of the investments are going. Probably a big part of the $72 billion in the
May 21st, 2013Committee meeting
Richard Paton
Finance committee Sure. It's stimulative because it creates incremental investment, i.e., investment that would not normally occur in Canada. As the Chemistry Industry Association of Canada, we are very committed—in fact our strategic plan is to seize the opportunity of this shale gas environment,
May 21st, 2013Committee meeting
Richard Paton
Finance committee Yes. The average wage in our industry is $70,000 to $80,000.
May 21st, 2013Committee meeting
Richard Paton
Finance committee We've seen $3 billion in the last two years, and we think there is about $10 billion out there of potential investment, all of which is marginal and wouldn't be here without the corporate tax plus the ACCA.
May 21st, 2013Committee meeting
Richard Paton
Finance committee I will answer in English. This is at the heart of the real problem we have here. Large capital investments take at least five years to go from planning to implementation. So even with the accelerated capital cost allowance, with an extension of two years, some of these investmen
May 21st, 2013Committee meeting
Richard Paton
Finance committee So it's very important to have long-term tax competitiveness for big projects.
May 21st, 2013Committee meeting
Richard Paton
Finance committee Thank you very much, Mr. Chairman, and my thanks to the committee for this opportunity to speak to you. I think the CME has covered most of the general issues, particularly the focus on manufacturing. So I'll just focus on the ACCA and its importance to our particular industry.
May 21st, 2013Committee meeting
Richard Paton
Finance committee There's some corporate memory here.
May 21st, 2013Committee meeting
Richard Paton
Transport committee Just a point. Mr. Mongeau is making a strong argument that service is improving, etc., and that we don't really need this legislation. What I don't really understand in the railway argument.... If you look at proposed amendment one, all this does is say this is what a service agr
February 28th, 2013Committee meeting
Richard Paton
Transport committee It was badly needed and it was pretty good.
February 28th, 2013Committee meeting
Richard Paton
Transport committee I would say it was, with some exceptions.
February 28th, 2013Committee meeting
Richard Paton
Transport committee Maybe I could just add one point. Oh, you're going to....
February 28th, 2013Committee meeting
Richard Paton
Transport committee I can start. This comes back to Mr. Goodale's question as well In our view, without specifying clearly what a service agreement is, we will end up with endless arbitration, and it won't be in the interests of commercial shippers and it will not be in the interest of the railways
February 28th, 2013Committee meeting
Richard Paton
Transport committee It's a very big country, so I think it's unlikely that we will change the network structure dramatically in this country. We will be left with some competition and sites, especially if you think of Pierre's sites, mining sites that are going to be very remote, and even more remot
February 28th, 2013Committee meeting
Richard Paton