Resource Revenues – what to do with them once you have them
Now that it looks like Nova Scotia and Nefoundland and Labrador will win the latest federal-provincial debate about natural resource revenues, it is important to remember that an even more important question remains to be settled. What you do with the money once you've got it? Natural resource revenues are not reliable revenues nor are they akin to "normal" government revenues like sales or income taxes. As one time payments based on the fluctuating value of assets that are being permanently liquidated they should not be used to fund current demands that turn into long term commitments. Read this piece to see why and how one time windfalls, as natural resorce revenues inarguably are, need to be invested not wasted. Slightly different versions of this column appeared in both the Chronicle Herald and the Times and Transcript.