Sask. government passes Bill 40, allows for up to 49 per cent sale of Crown corporations

The Saskatchewan government passed Bill 40 Wednesday afternoon, which defines the term “privatization” and allows for up to 49 per cent of a Crown corporation to be sold.

The governing Saskatchewan Party says the bill follows the World Bank definition of privatization. Additionally they say it protects Crown assets, ensuring Saskatchewan people will own a controlling stake of companies like SaskPower if a transaction took place.

Opponents say this bill allows the government to sell-off Crown corporations through the backdoor.

“Our members are very, very disappointed that they were lied to by the premier of this province during the last election. He straight-out said that he wasn’t privatizing crowns and now he’s doing it this afternoon,” Unifor western director Joie Warnock said.

Members of Unifor and other unions all wore black in the legislature galleries as the vote was held. Warnock said this was to mourn the death of Crown corporations.

READ MORE: Province introduces legislation to define “privatization”

Opposition leader Trent Wotherspoon launched a last minute plea to try and sway Saskatchewan Party voters. He was unsuccessful.

“It’s indecent that that Saskatchewan Party wouldn’t put forward their privatization scheme before Saskatchewan people in an election,” Wotherspoon said.

Meanwhile, Minister Responsible for SaskPower and Attorney General Gordon Wyant said this bill will allow private investors, like pension funds, to buy-in on Saskatchewan’s Crowns.

“As far as I know, there’s been no formal expressions of interest in anything, so I think we just have to wait and see how this process unfolds,” he said.

“I think those are better questions to asked to the ministers responsible for those Crowns, but being the Minister Responsible for SaskPower I’ll tell you that there’s been no discussions.”