Empowering Provinces: Taxation Rights and Resource Share Equalization
The New Federation Party is committed to promoting a more decentralized and equitable approach to governance in Canada. We believe in empowering provinces with taxation rights and ensuring a fair distribution of resource wealth. To achieve these goals, we propose a comprehensive policy that includes "Taxation Rights to Provinces" and the establishment of a "Resource Share Equalization Pool."
Provincial Taxation Rights:
We will transfer taxation rights to the provinces, granting them more control over revenue collection and fiscal policy.
Resource Share Equalization Pool:
We will create a resource share equalization pool, funded by resource wealth royalties, to support the federal government and critical infrastructure projects.
Restructuring the CRA:
The powers and authority of the Canada Revenue Agency (CRA) will be down graded and redefined, providing Canadians with the option to opt in or allow their resource share royalties to in part contribute to infrastructure building.
1. Provincial Taxation Rights:
We will work with provincial governments to transfer additional taxation rights, allowing them to have a more significant say in fiscal policy, revenue collection. This shift in authority will empower provinces to make decisions that best suit their unique needs and priorities and most of all the needs of the citizenry.
2. Resource Share Equalization Pool:
The establishment of a resource share pool will create a mechanism to distribute resource wealth royalties across provinces. This pool will be used to fund federal government operations, including critical infrastructure projects that benefit the entire nation.
The formula will be designed to account for regional disparities and resource contributions, enabling fair and equitable resource wealth sharing not taken from the provinces disproportionately but from the revenues generated from Canada’s total resource wealth.
3. Restructuring the CRA:
We will restructure the Canada Revenue Agency (CRA) to align with the principles of choice and consent. Canadians will have the right to opt in or allow their resource share royalties to be used in part for federal infrastructure projects, offering a more direct and participatory role in the allocation of resources which ALL Canadians own.
The CRA's authority and powers will be reduced and redefined to respect the rights and choices of Canadians, ensuring transparency and accountability in the resource wealth allocation process, the days of CRA ceasing bank accounts and bankrupting Canadians will be over.
The New Federation Party's commitment to empowering provinces, establishing a resource share pool, and redefining the CRA's authority represents a new era of cooperative governance and fiscal responsibility. By decentralizing decision-making and ensuring Canadians have a say in the allocation of resource wealth, we are building a more responsible, equitable and responsive nation. We invite all Canadians to support this policy and to help shape it at our convention to shape a better future for our great country.