REGINA—Saskatchewan Party Leader Brad Wall today reiterated the Saskatchewan Party position that any new federal equalization formula must exclude 100 per cent of provincial natural resource revenue and must be based on a ten-province standard.
“The Saskatchewan Party believes any new equalization formula should not penalize Saskatchewan for having natural resources,” Wall said. “That was the principle of the Atlantic Accord. What is fair for those provinces should be fair for Saskatchewan.”
Wall was reacting to the report released today by the Expert Panel on Equalization and Territorial Formula Financing with a recommendation that 50 per cent of provincial resource revenues should be included to determine the size of the new equalization pool. The panel was appointed by Liberals prior to the last federal election.
In May, Wall wrote Prime Minister Stephen Harper to outline the Saskatchewan Party’s position with respect to a fair equalization deal for Saskatchewan. He also reiterated these points in a recent telephone conversation with the Prime Minister.
“The Saskatchewan Party also believes that a new equalization formula should be retroactive to April 1, 2006, to compensate Saskatchewan for any loss of revenue from equalization which may accrue during the period leading to the adoption of a new equalization formula,” Wall said.
Wall is confident an agreement that will meet Saskatchewan’s needs can still be delivered.
“To date, the Conservative government has delivered on a number of its campaign promises, and I anticipate the same with respect to its commitment to a new equalization formula that excludes 100 per cent of resource revenues and is based on a ten-province standard,” Wall said.
“Saskatchewan needs a new equalization program that will ensure this province is able to fully develop its oil and gas potential without the revenue derived from that development being unfairly penalized through inclusion in the equalization calculation.”
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For more information, Saskatchewan Party Caucus, Regina, 787-4300.
