Canadians' Right to Share in Our Country's Natural Resource Wealth through Annual Royalty Payments
The New Federation Party recognizes the inherent right of all Canadians to benefit from the country's vast natural resource wealth. To ensure that Canadians receive a fair and equitable share of the benefits derived from the exploitation of these resources, we hereby establish the policy of implementing annual royalty payments on natural resource extraction activities. This policy is guided by principles of transparency, sustainability, and inclusivity.
Royalty Collection and Allocation:
a) Annual royalty payments shall be collected from companies engaged in the extraction of natural resources within Canadian territory. These resources include, but are not limited to, minerals, oil, natural gas, forests, and water resources.
b) The collected royalties shall be allocated for the benefit of all Canadians, with a focus on addressing economic disparities, supporting sustainable development.
Transparency and Accountability:
a) A transparent and accountable system shall be established for the calculation, collection, and management of royalties. Detailed records of resource extraction, payments, and allocation of funds shall be made publicly available.
b) An independent oversight body shall be established to monitor and audit royalty collection and allocation processes, ensuring compliance with this policy.
a) A portion of the annual royalty revenues shall be distributed to provincial and territorial governments in accordance with established formulas that consider the extent of resource extraction within their jurisdictions.
b) A significant portion of the royalties shall be dedicated to a federal fund known as the "Canadian Resource Benefit Fund" (CRBF), from which direct payments will be made to eligible Canadian citizens.
Eligibility and Payment:
a) All Canadian citizens, permanent residents, and Indigenous peoples with status shall be eligible to receive annual royalty payments through the CRBF.
b) The CRBF shall distribute payments on an equitable basis, with consideration for factors such as income, family size, and regional disparities.
Indigenous Rights and Consultation:
a) Indigenous peoples' rights and interests in resource-rich territories shall be respected and upheld. Consultation and collaboration with Indigenous communities shall be a fundamental aspect of resource management and royalty distribution.
b) Indigenous nations may choose to allocate their share of royalties for community development, cultural preservation, or other priorities as determined through opt in voting
a) A portion of the royalties shall be allocated to environmental conservation initiatives, free energy development, and programs aimed at mitigating the environmental impacts of resource extraction.
b) The government shall encourage resource companies to adopt sustainable and responsible practices through incentives and regulatory measures.
Review and Adaptation:
a) This policy shall be subject to periodic reviews and evaluations to ensure its effectiveness, fairness, and alignment with evolving societal and environmental priorities.
b) Amendments and adaptations to the policy may be made as necessary to address changing circumstances and needs.
The NFP as the new Government of Canada will commit to implementing this policy through mandated legislative measures, in collaboration with provincial and territorial governments, Indigenous nations, industry stakeholders, and civil society. The policy shall be phased in gradually to allow for the development of necessary infrastructure and administrative systems.
This policy aims to empower Canadians to share in the prosperity derived from our natural resource wealth, promote sustainable resource management, and advance social and economic equity across the country. It reflects our commitment to responsible stewardship of our natural resources and the well-being of all Canadians.