SASKATOON - The Canadian Taxpayers Federation has repeated their call for a heritage fund to be created for Saskatchewan.
The CTF released its report Monday which showed the province would have about $4.2 billion in savings if it started saving natural resource revenues in a heritage fund in 2013. That was the same year the province had commissioned a report on heritage funds, one that recommended the province create such a fund.
The CTF report also stated such a fund would be generating interest payments of about $210 million annually.
“The report is clear: Saskatchewan needs to start a heritage fund now to save resource revenues and set the province up for the long-haul,” said Gage Haubrich, CTF Prairie Director in a statement.
“Alaska and Norway have built up successful heritage funds and are reaping the benefits.”
CTF pointed to every eligible Alaskan receiving $1,704 in a dividend from the fund last year,,whilo Norway’s fund is worth more than $2.5 trillion. CTF also pointed to plans by Alberta Premier Danielle Smith to grow Alberta’s heritage fund to $250 billion by 2050.
“Saskatchewan taxpayers are losing out on hundreds of millions of dollars every year because provincial politicians keep procrastinating on saving money for the future.”
In a statement, the Government of Saskatchewan had this response to the latest call for a heritage fund:
”Before investing in a new heritage fund, the government will continue prioritizing funding needed capital spending and sustaining necessary programs, in areas such as healthcare and education. The Government of Saskatchewan also supports prudent management of its debt and maintains the second lowest net-debt-to-GDP ratio among provinces.”
