Any decision on rescinding the L-N-G tax concession to Irving Oil will wait until after the May municipal election.
Local Government Minister Brian Kenny has sent a letter to Common Council warning that any legal and financial ramifications will have to be considered carefully, adding repeal will also result in less provincial grant money coming to the city.
Common Councillor Gerry Lowe says the city would still be further ahead financially and with the state of the province’s finances, there’s no guarantee about the long term future of the unconditional grant.
Lowe says he doesn’t understand why the provincial government is waiting until after the election but any change wouldn’t take effect until the 2017 taxation year.
