I believe there is a vision for our country that beckons us. A vision that would have us take our rightful place in leading a world that needs answers to these questions on food security and energy security. It is a vision of a country, then, that through the benefit of this natural resource and exports reinvest in the next economy, in the knowledge economy, the new economy, and continue to grow in the interests of future generations. But to do that, we as Canadians, all of us, we need to have that vision in the first place. And we will need the requisite courage required to fulfill that vision. We will need the courage to make tough decisions. This has been a tough decision. Decisions like saying to an eager world that, well, we welcome investment, but there are certain strategic resources that call for circumspection. That call from discipline on our part as Canadians. That call on us to keep an eye to the future. We see a place for Canada in the world, and a big role for Canadian companies, situated in a world that wants what has been bestowed upon us by providence, and in such abundance.
Ladies and gentlemen, we have done our due diligence, exhaustively. We have asked the questions. We have made our assessment of this foreign takeover and what it represents. We believe there is a risk for a net loss to jobs in the country. We believe there is a significant risk to net loss to revenue for the Governments of Saskatchewan and Canada, revenue that in our province that would require deficits, or tax increases, or program cuts, or some combination of those things. And our assessment also tells us that the takeover will result in a net loss of our strategic influence around the world, at a time when the influence of our province, and I think our country, should be on ascendancy.
So, in the interests of jobs for Saskatchewan families, in the interests of the quality of life that we prize that is funded by revenue to government, and in the interests of the place of our province and our country in the world, we must say no to this hostile takeover.
And let me just say this, the answer no is not unprecedented. It has been given in free market economies around the world. Here is an example from Australia, the home of BHP Billiton. When Shell bid $10 billion for a controlling stake in a leading company developing Australia’s offshore natural gas reserves, an answer came from the enterprise-friendly government of Prime Minister John Howard in April of 2001, and that answer was a respectful no. Not yes with conditions, it was no. Australia’s then-treasurer Peter Costell said it was in the country’s best interests to have these offshore reserves to be quote “unequivocally managed and operated and marketed for Australia.” Why in the world should we deserve anything less than that in Saskatchewan and in Canada? Why wouldn’t we make that same kind of decision, so that we can ensure the great natural resources we have are managed and operated and marketed for Canada and for Saskatchewan? And by preserving just such an environment, we are saying yes to a bright future for this industry. We say yes to the national interests of our country. We say yes to fulfilling the potential of our province and our nation. We say yes to controlling the resource and our future. We say yes to Canada’s century. We say yes to Saskatchewan’s century, because a world that needs food security, a world that needs energy security and innovation, that world needs a strong and vital Canada. Let’s be that Canada for the world. That big hope and grand vision requires on this occasion a modicum of courage and one little word.
No.
Thank you.
