Atlantic Accord
One of his most notable achievements was negotiating with the federal government to implement the Atlantic Accord, a multi-decade regional development program that had been approved in principle during the late 1980s to prevent provincial government offshore oil and gas royalties from being included in calculations for the federal equalization program. This resulted in an $830 million payment in 2005 from the federal government, which Hamm applied against the principal on the province's long term debt, thereby reducing debt servicing payments by over $50 million annually.
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Famous quotes containing the words atlantic and/or accord:
“They commonly celebrate those beaches only which have a hotel on them, not those which have a humane house alone. But I wished to see that seashore where man’s works are wrecks; to put up at the true Atlantic House, where the ocean is land-lord as well as sea-lord, and comes ashore without a wharf for the landing; where the crumbling land is the only invalid, or at best is but dry land, and that is all you can say of it.”
—Henry David Thoreau (1817–1862)
“Where might is mixed with wit, there is too good an accord in a government.”
—Elizabeth I (1533–1603)