And that misery will get spread around. What with a fair chunk of oil workers being temporary. Only working and acutally living, well, here. So it'll NS/NFLD/NB social safety net that get strained too by lower oil prices.

Quote Originally Posted by Papewaio View Post
Western Australia is in a similar situation with the iron ore prices plummeting. Seems they were spending all the income and not saving or investing in different revenue streams.
Really shows putting all your economic bets on something a potentially volatile as commodities is stupid and short sighted.

Quote Originally Posted by Papewaio View Post
At least in says it is one income tax and GST (VAT) system across Australia.
Oh we got one of those too. But it's relatively small (5%), and the provincial ones are double (or more) that on average. And Federal taxes are actually more significant that provincial ones.