The Three T's - Taxes, Tariffs and Trade
The future progress and prosperity of the mining industry in Canada depends, to a very large measure, on
what happens in the next few months and in the years ahead to the three T's - taxes, tariffs and trade.
The whole Federal tax structure is now under scrutiny by the Royal Commission on Taxation, and the
mining industry, as well as the petroleum industry, has had its day in court. It was an uncomfortable and
disturbing day for those who took part in it. The searching examination to which the industry was subjected constitutes a warning. The industry will have to fight hard and intelligently if it is to retain those aspects of tax legislation which have meant so much to it in the past. Likewise, provincial tax commissions are in style; in Ontario, Quebec and Saskatchewan, provincial tax laws are being reviewed. As regards tariffs and trade, these are so interconnected that they can be taken together. Our tariff structure is under constant review before the Tariff Board, and there are plenty of industries which are always pressing for more protection. This is obviously counter to the interests of Canada's greatest export industry - mining. Internationally, the outcome of the "Kennedy Round" of G.A.T.T. agreements will be of vital importance to the Canadian mining industry. The three T's are the key to our future.
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