Mind the Gap: Dealing with Resource Revenue in Three Provinces ...

• Main Author: Kneebone, Ronald D.
• Format: Article in Journal/Newspaper
• Language: English
• Published: The School of Public Policy Publications 2015
• Subjects: Newfoundland
• Online Access: https://dx.doi.org/10.11575/sppp.v8i0.42522.g30410; https://journalhosting.ucalgary.ca/index.php/sppp/article/view/42522/30410

Alberta, Saskatchewan, Newfoundland and Labrador have each enjoyed a “rags to riches” story. Each of these provinces entered Confederation as poor cousins relative to the rest of the country; Alberta and Saskatchewan in 1905 and Newfoundland and Labrador in 1949. Rather remarkably, almost exactly four decades after entering Confederation each province began to enjoy the strong economic growth resulting from the development of their natural resources; Alberta and Saskatchewan in the late 1940s with the discovery of large pools of oil and Newfoundland and Labrador in the early 1990s with the development of off-shore oil. The governments of these provinces have similarly enjoyed the benefits of large amounts of revenue realized from the sale of these natural resources. In 2013-14, resource revenues accounted for 21 per cent, 22 per cent and 32 per cent of provincial revenues in Alberta, Saskatchewan, Newfoundland and Labrador, respectively. Unfortunately, the benefit of receiving large amounts of resource ... : The School of Public Policy Publications, Vol 8 (2015) ...