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SASKATCHEWAN WANTS SAME EQUALIZATION DEAL

Released on January 31, 2005

Finance Minister Harry Van Mulligen will take Saskatchewan's case for a similar equalization deal as achieved with Newfoundland and Nova Scotia to Federal Finance Minister Ralph Goodale in Ottawa today.

Nova Scotia and Newfoundland and Labrador have reached a new deal with the federal government to keep 100 per cent of their offshore energy revenue.

"That's great news for Nova Scotia and Newfoundland and Labrador. We expect it to mean great news for Saskatchewan too," Premier Lorne Calvert said.

"We want the same deal."

Saskatchewan's position has long been that the difference in treatment of natural resources between jurisdictions is unfair. Saskatchewan loses, on average, about 90 per cent of all provincial royalties and taxes collected on oil and gas developments. In some years, Saskatchewan has lost in excess of 100 per cent of all its provincial energy revenues.

"To put it into perspective, a similar deal for Saskatchewan, looking back over the last 10 years, would have realized over $4 billion for the province if the federal government had not taxed back our oil and gas revenues," Calvert said, noting this refers to years when Saskatchewan was of "have not" status.

"We congratulate Atlantic Canada on this new deal. But we believe it is only fair that Saskatchewan receive a higher percentage than we currently do.

"Saskatchewan residents should benefit from their non-renewable resources in the same manner as residents of other provinces," Calvert noted. "We've told the federal government that we expect the same treatment for our energy resources as what is being provided to Newfoundland and Labrador and Nova Scotia under the new deal."

The Saskatchewan government will also make its case to the independent Equalization Panel that Saskatchewan should retain its natural resource revenue under equalization.

"Our voice will be heard in Ottawa," Calvert said.

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For More Information, Contact:

Jay Branch
Media Services
Regina
Cell: (306)539-3994		Lorri Thacyk
Finance
Regina
Phone: (306)787-6605

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