Alberta tried the same thing Australia is doing, but in the energy sector. The result: they slit the industry's throat. All new projects went elsewhere, gvt revenues dropped like a rock. 2 years later the gvt has undone all of the tax 'improvements' they implemented, but projects are slow to return. Strangely, the industry no longer trusts the gvt.

Flaherty will know all of this if pushed to mimic Australia. And mining is big in Ontario and Quebec where gvt pain causes lost elections.

There is nothing to stop provincial gvts from making the same mistake, however. 'It will be different this time." hah!