The 1985 Atlantic Accord exceeded Brian Peckford's goals as stated in the ad. Under the 1985 Atlantic Accord, the Government of Newfoundland and Labrador sets and collects all royalties from the offshore as if it were on land. The federal government receives no royalties.
That situation is not tied to income parity or any other similar measure. it exists without restriction or limitation.
As well, the provincial government collects Equalization and an Equalization offset until such time as the provincial government no longer qualifies for Equalization.
Click on the picture to enlarge:
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