Released on December 17, 2007
In a move designed to send a positive signal to investors around the globe, the government of Saskatchewan today introduced An Act to Repeal the Potash Development Act.
"Right now in this province, we have laws on the books that allow government to expropriate private assets in the potash sector," Premier Brad Wall said. "These powers are antiquated, inappropriate and no longer necessary - so we're getting rid of them."
First introduced in 1975 as part of the Blakeney government's strategy to nationalize the potash industry, The Potash Development Act allows the provincial government to expropriate private property and assets related to potash. The Bill introduced in the Assembly today will repeal The Potash Development Act and take away the government's ability to nationalize the potash industry.
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For more information, contact:
Bonny Braden
Media Services
Regina
Phone: 306-787-0906
Email: bonny.braden@gov.sk.ca
Cell: 306-541-7068