PM Announces Funding for Saskatchewan Under New National Community Development Trustent Trust

News Release

17 January 2008
Prince Albert, SKPrime Minister Stephen Harper, joined by Saskatchewan Premier Brad Wall, today announced the Government of Canada will provide Saskatchewan with $36.4 million as part of the new national Community Development Trust.
The Government recently unveiled the program to help provinces and territories assist communities and workers suffering economic hardship caused by the current volatility in global financial and commodities markets.
"I am pleased to announce that Saskatchewan's new Government has agreed to be a partner in the Community Development Trust," said Prime Minister Harper. "This major new national initiative will support provincial and territorial efforts to help communities and workers buffeted by international economic turbulence that is beyond their control."
The Government of Saskatchewan has identified several funding priorities in keeping with the aims of the Community Development Trust, including:
Biofuels and sustainable energy development;
Infrastructure; and
Support for communities affected by lay-offs in the forestry sector.
"While the Saskatchewan economy is strong, there are sectors and regions that can definitely benefit from strategic investment from the federal government," said Premier Wall. "We want to see the current economic boom being experienced in this province turned into long-term prosperity and growth for all Saskatchewan people."
The Community Development Trust will be funded with $1 billion from the projected 2007-08 budgetary surplus. A base amount of $10 million will be allocated to each participating province and $3 million to each participating territory. The balance of the funding will be allocated on a per capita basis. The Trust will have a three-year lifespan starting as soon as Parliament approves the required legislation. The Government of Saskatchewan has agreed to respect Canada's obligations under the North American Free Trade Agreement, the Softwood Lumber Agreement, and the World Trade Organization in administering their portion of the Trust funding.
"In last fall's throne speech, we responded to what we heard from our MPs in all regions of the country and promised more action to stand up for workers and communities in traditional industries," said the Prime Minister. "Working together, Ottawa and all the provinces and territories can turn the economic challenges we face today into economic opportunities for all Canadians tomorrow."

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PM Announces Funding for Saskatchewan Under New National Community Development Trustent Trust

News Release

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