LETTER TO THE EDITOR
The $1.6 billion dollar sale of the Saskferco Nitrogen Fertilizer Plant at Belle Plain fulfills the strategy of the former Progressive Conservative government to build on one of Saskatchewan’s natural strengths – natural gas - and turn it into a world-class provider of fertilizer, high quality jobs and a long-term provider of royalties, taxes and economic activity for the people of Saskatchewan.
The vision was always to build the plant in partnership, see it through to profitability and then divest the province’s share and reinvest the profits into another capital project and repeat the process again, building our economy and providing opportunity to our people.
The NDP said it was the worst financial initiative the province ever entered into but once in government, they hung onto it for 16 years because Saskferco was a “cash” cow for the government of Saskatchewan. Perhaps instead of appointing former NDP Finance Minister Janice MacKinnon to the Chairmanship of the Crown Corporation board to fulfill a cheap political debt, Brad Wall should open the books and tell the truth about when Saskferco and other PC initiatives reached profitability.
Saskferco paid for itself many years ago with dividends of over $200 million, the millions in royalties on natural gas, taxes, income taxes and goods and services purchased within our province. The $750 million in profit from the government’s 49% of the sale should now be used to develop other capital projects which over a period of time will build on our natural strengths and provide income and employment for our people for decades to come. There are many to choose from.
This money should not be used to fill holes in the roads, the Sask Party government’s high fuel taxes will do that, or contribute to Brad Wall’s personal legacy plan. The best legacy we can leave our children is to continue to build on our natural resources too long ignored and create long-term, stable employment opportunities which will withstand the vagaries of international commodity markets. Saskferco and many other projects were built for “The Right Reasons” by a Progressive Conservative government. We look forward to doing more in the future for Saskatchewan.
The vision was always to build the plant in partnership, see it through to profitability and then divest the province’s share and reinvest the profits into another capital project and repeat the process again, building our economy and providing opportunity to our people.
The NDP said it was the worst financial initiative the province ever entered into but once in government, they hung onto it for 16 years because Saskferco was a “cash” cow for the government of Saskatchewan. Perhaps instead of appointing former NDP Finance Minister Janice MacKinnon to the Chairmanship of the Crown Corporation board to fulfill a cheap political debt, Brad Wall should open the books and tell the truth about when Saskferco and other PC initiatives reached profitability.
Saskferco paid for itself many years ago with dividends of over $200 million, the millions in royalties on natural gas, taxes, income taxes and goods and services purchased within our province. The $750 million in profit from the government’s 49% of the sale should now be used to develop other capital projects which over a period of time will build on our natural strengths and provide income and employment for our people for decades to come. There are many to choose from.
This money should not be used to fill holes in the roads, the Sask Party government’s high fuel taxes will do that, or contribute to Brad Wall’s personal legacy plan. The best legacy we can leave our children is to continue to build on our natural resources too long ignored and create long-term, stable employment opportunities which will withstand the vagaries of international commodity markets. Saskferco and many other projects were built for “The Right Reasons” by a Progressive Conservative government. We look forward to doing more in the future for Saskatchewan.
Rick Swenson, Leader
P.C. Party of Saskatchewan
Box 2187, Moose Jaw, SK S6H 7T2
(306) 692-5060
Dated: July 21, 2008