Friday, December 2, 2011

Resource Revenue should be kept in a Resource Fund

Green Party of Saskatchewan
December 2, 2011

The Green Party of Saskatchewan has a proposal for the responsible use of revenue from natural resources in the province. Party Leader Victor Lau says a minimum of 18 percent of resource revenue should be placed in a resource fund, similar to the Alaska Permanent Fund. Oil revenue is set aside in the Alaskan fund for future generations of citizens, and is used to provide dividends to the adult citizens of Alaska. Annual payouts to citizens have ranged up to $2,000 U.S. per person.

Lau likes the idea of a Resource Fund for Saskatchewan, because it preserves the benefits of our province’s growing economy for future generations, “Alaska is showing Saskatchewan the way, in terms of how resource revenue can be made available for all present and future Saskatchewan citizens.” Lau says, “Saskatchewan citizens own the natural resources in our province. Therefore Saskatchewan citizens have a right to enjoy the benefits of that ownership directly through a Guaranteed Livable Income."

Lau says the provincial government always needs to have enough revenue to ensure that the provincial budget is never in deficit. “By ensuring there is always enough resource revenue to balance the budget while eliminating poverty through a guaranteed income,  we move towards the goal of One Saskatchewan," states Lau. " Resource revenue is a blessing, not something our province should ever take for granted” says Lau.

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