The latest Goodale Update...
It is CRITICAL for us to ensure Canada maintains its control over such a vital industry...
DEFENDING SASKATCHEWAN’S POTASH AND ITS FUTURE:
Premier Wall says selling-off Saskatchewan’s potash industry to one big foreign buyer could put jobs, investment and public revenues at risk – worth a whopping $5.7 billion!
On the other side of the equation, there appear to be no substantial net gains for the province. The deal doesn’t create something new; it simply changes the ownership of what already exists.
Stephen Harper – who (sadly) has the final say under federal law – has shown clear bias in favour of a foreign takeover. He deliberately belittled the Potash Corporation of Saskatchewan, and scoffed at the notion that potash is a strategic commodity.
But Mr. Harper is wrong. When one transaction shifts an entire Canadian industry into the hands of a single foreign buyer – that’s a strategic issue!
When that industry is potash which is vital to food production worldwide for generations to come – that’s a strategic issue!
When 53% of the world’s known potash reserves are in Saskatchewan and they’re about to be controlled forever from outside Canada – that’s a strategic issue!
When the transaction is the largest resources sell-off in Canadian history with nothing of significance left in Canadian hands thereafter – that’s a strategic issue!
When any conditions that might be attached to any deal could remain secret and are unenforceable – that’s a strategic issue!
Standing up for Canadian-controlled business champions is not “anti-business”. It’s just not being a pushover.
Those who argue that governments should just “get out of the way” should recall the similar argument made 15 years ago about deregulating financial institutions and allowing bank mergers. What a mess we’d have today if that bad advice had been taken.
If Mr. Harper forces an unwanted decision on potash down Saskatchewan’s throat, the Conservatives had better stand ready to pick up the tab for Saskatchewan’s losses.
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