Tuesday, September 06, 2005

Saskatchewan Chamber: Open up crowns to public share offering

The Saskatchewan Chamber of Commerce would like to see Crown Corporations be true public companies. Provincial Chamber President Ted Hillstead says, “If the public owns the Crowns, thenthe provincial government should make them truly public through a plan of issuing shares to the taxpayers.”

Hillstead says the provincial government has always stated that the Crowns are owned by the taxpayers. He adds that, “If these Crowns then are truly public companies owned by the taxpayers, then they should be shareholders. The taxpayers should own shares in these companies and elect the Board of Directors. This would make the Crowns more accountable to their ultimate shareholders - the people of the province.”

Hillstead says a plan could be used that is similar to Cameco, or the Potash Corporation, where the government continues to own a minority position (49% or less) of the company, and the taxpayers are either issued shares or allowed to purchase shares at a preferred rate. Hillstead says, “This process could be even done with a smaller Crown or Treasury Board Crown, such as Liquor Board Stores as a pilot to prove the process will work and be beneficial to all.”

This is really great stuff. It's great to see the Saskatchewan Chamber of Commerce has a handle on that "vision thing."


Anonymous said...

In the 2003 provincial election, Mr. Hermanson asked,'why wouldn't we consider it?' The taxpayers gave their answer - NO to Hermanson! The Chamber is out of touch with the will of the taxpayers. So,as much as the Chamber may want it - it aint gonna happen.

David MacLean said...

Sorry, I missed that referendum question on the ballot.

Len Pryor said...

The left has been spouting this garbage for ever. Co-ops included.
"The people are the owners and shareholders". Any co-op that I have belonged to, and there have been several have all given us this B.S. When I say to them, "ok I need some money, I want to sell my share", they tell me I can't do that. The whole belongs to the people, either government or co-op members whichever the case may be. We all own it. I say if I can't sell it, then I don't own it. Incidently, any co-op I have belonged to has cost me money. Hard experience has taught me, "I don't do co-ops".

If the Sask Government wakes up and follows the lead the Provincial Chamber of commerce, I will be first in line to buy shares.

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