Brad Wall's Saskatchewan Party Administration Is Literally GIVING Our Potash Reserve Away
Ten years ago, PotashCorp paid royalties to the province of Saskatchewan in the amount of $76.8 Million from their profit of $300 Million.
Last year, PotashCorp paid the province the same $76.8 Million royalty on profits of $1.8 BILLION! Brad Wall says that this is a 'fair deal'. Many chose to disagree with Mr. Wall.
The Editorial Board of the Saskatoon Star Phoenix agrees that Saskatchewan is now on the short end of the royalty stick .. with Brad Wall sounding more like a representative of PotashCorp than the Premier of Saskatchewan.
"And there is evidence that Mr. Wall's commitment may be better for the potash company than for his own constituents. While it is important to assure a predictable tax regime remains in place, it's even more important that the taxes are fair to the people who own the resource."
(The editorial goes on to say:)
"That Saskatchewan was able to raise only $77 million or so in royalties last year -when PCS alone earned $1.8 billion -suggests that Mr. Wall's government is selling this strategic resource on the cheap side."
Saskatoon Star Phoenix
Brad Wall's defenders will try and run out in front of this criticism and tell you that 'it was the NDP who set the current royalty rate when they were in power' ... EXCUSE ME! ... $1.8 BILLION in current PotashCorp profits is a far cry from 10 years ago when profits were $300 MILLION.
Brad Wall is allowing Saskatchewan to be ripped off ..... big time!