April 11, 1957 (22nd Parliament, 5th Session)

LIB

Walter Edward Harris (Minister of Finance and Receiver General; Leader of the Government in the House of Commons; Liberal Party House Leader)

Liberal

Hon. W. E. Harris (Minister of Finance):

Mr. Speaker, the quarterly payments which were due under the tax rental agreements in the latter part of the fiscal year were in several cases considerably lower than the provincial governments concerned expected. In the case of Prince Edward Island they had been overpaid to the extent of $1,141,103.80 over the period of the five-year agreement. Consequently that amount was deducted from the final payment.
The government of the province of Prince Edward Island has made representations, with the result that it has been decided that we would pay the full amount of the quarterly payment that was expected and recover the deduction over the course of the term of the present agreement. That offer is, of course, open to any other provincial government which had a similar deduction.

Topic:   DOMINION-PROVINCIAL RELATIONS TAX RENTAL AGREEMENTS OVERPAYMENT TO PRINCE EDWARD ISLAND
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