(SK) Premier owns shares in company he invites to Regina

(SK) Premier owns shares in company he invites to Regina

Postby Oscar » Sun Apr 02, 2017 9:48 am

Brad Wall invites Calgary energy companies to move to Saskatchewan

[ http://www.cbc.ca/news/canada/calgary/b ... -1.4046020 ]

Saskatchewan premier offers to subsidize relocation costs, trim taxes and royalties

The Canadian Press March 29, 2017

Saskatchewan Premier Brad Wall is taking a turf war with Alberta to its economic heart, inviting energy companies based in Calgary to move their headquarters to his province.

In a letter to Whitecap Resources, Wall offers to subsidize relocation costs, trim taxes and royalties and help find space in unused government buildings if the oil and gas firm moves to Saskatchewan.

The letter, provided to The Canadian Press, says it may make sense for Whitecap Resources and other Calgary companies with oil and gas production in Saskatchewan to make a "co-operative joint move" to benefit from additional cost savings.

Wall cites reductions to corporate and personal income taxes promised in his recent provincial budget as further incentives, adding that his government has no intention of implementing a carbon tax, unlike Alberta's.

Whitecap Resources CEO Grant Fagerheim says he's taking the letter seriously but would only move if it would benefit his company's shareholders MORE: . . . .


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Re: (SK) Premier owns shares in company he invites to Regina

Postby Oscar » Sun Apr 02, 2017 9:51 am

Premier Brad Wall holds shares in Alta. energy companies he tried luring to Sask. (See Document)

[ http://www.cbc.ca/news/canada/saskatche ... -1.4050982 ]

By Geoff Leo, CBC News Posted: Mar 31, 2017 6:39 PM CT| Last Updated: Apr 01, 2017 8:19 AM CT

Conflict of interest commissioner says Wall has done nothing wrong

Premier Brad Wall is not in a conflict of interest, despite the fact he owns shares in companies he's trying to lure to Saskatchewan using public resources, says the province's conflict of interest commissioner.

In a letter to Whitecap Resources, made public earlier this week, Wall tried to coax the company to move its head office to the province. His letter offered to cover relocation costs, as well as tax incentives, affordable office space and "help with other hurdles as you define them and as can reasonably be offered."

Whitecap CEO Grant Fagerheim said he would move only if it benefited his company's shareholders.

Wall is one of those shareholders, according to the premier's latest conflict of interest statement.

Wall and wife hold shares

An official in Wall's office confirmed that the premier and his wife have 1,826 shares in the company, valued at about $18,000.

The official also confirmed that Wall sent similar letters offering incentives to two other companies in which he owns shares: Crescent Point Energy and Canadian Natural Resources Ltd.

When media outlets asked the premier about this, his office asked Ron Barclay, the conflict of interest commissioner, for his opinion.

More . . . . .


Conflict of Interest Commissioner's Document
[ http://s3.documentcloud.org/documents/3 ... sioner.pdf ]

Mobile users: View the document
(PDF KB) [ http://s3.documentcloud.org/documents/3 ... sioner.pdf ]
(Text KB) [ http://s3.documentcloud.org/documents/3 ... sioner.txt ]
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