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  • Pharmacare consensus principles released today September 24, 2018
    A diverse coalition representing health care providers, non-profit organizations, workers, seniors, patients and academics has come together to issue a statement of consensus principles for the establishment of National Pharmacare in Canada. Our coalition believes that National Pharmacare should be a seamless extension of the existing universal health care system in Canada, which covers medically […]
    Canadian Centre for Policy Alternatives
  • Kate McInturff Fellowship in Gender Justice September 19, 2018
    The CCPA is pleased to announce the creation of the Kate McInturff Fellowship in Gender Justice.This Fellowship is created to honour the legacy of senior researcher Kate McInturff who passed away in July 2018. Kate was a feminist trailblazer in public policy and gender-based research and achieved national acclaim for researching, writing, and producing CCPA’s […]
    Canadian Centre for Policy Alternatives
  • The buck-a-beer challenge Ontario deserves September 6, 2018
    Ricardo Tranjan proposes an alternate plan to Doug Ford's buck-a-beer challenge in the Toronto Star.
    Canadian Centre for Policy Alternatives
  • Growing number of professionals face job insecurity, study finds September 6, 2018
    The Toronto Star's Sara Mojtehedzadeh discusses the findings of the CCPA Ontario's report, No Safe Harbour and gathers firsthand accounts from precariously employed professionals who live and work in Ontario.
    Canadian Centre for Policy Alternatives
  • Our Schools/Our Selves: The view from West Virginia September 4, 2018
    Our latests publication, Lesson Here, digs in to the West Viriginia teachers' strike.  Read the firsthand accounts of the work stoppage here.
    Canadian Centre for Policy Alternatives
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The Progressive Economics Forum

PotashCorp Reports Inadequate Royalties

PotashCorp reported today that it paid $81 million of “provincial mining and other taxes” on $975 million of potash sales in the second quarter of 2013. In other words, Saskatchewan’s potash production tax and resource surcharge amounted to 8% of potash sales.

Adding the basic Crown royalty of just over 2% (which PotashCorp includes in the “cost of goods sold”), the province’s total royalty return is just over one-tenth of the value extracted by PotashCorp. As the company exhausts its extremely generous investment write-offs, potash royalties have gone from a nickel on the dollar to a dime on the dollar.

Mining and transport costs amount to only 35 cents per dollar of potash sold. (See page 12 of PotashCorp’s report: ($294 million for the cost of goods sold + $68 million of freight, transportation and distribution)/$975 million of potash sales – the Crown royalty of 2 cents per dollar.) The people of Saskatchewan, who own this lucrative resource, should receive much more than a dime of the remaining 65 cents.

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