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In his letter to Whitecap Resources, provided to The Canadian Press, Wall cites reductions to corporate and personal income taxes promised in his recent provincial budget as further incentives, adding that his government has no intention of introducing a carbon tax as Alberta already has.
In his letter to Whitecap Resources, provided to The Canadian Press, Wall cites reductions to corporate and personal income taxes promised in his recent provincial budget as further incentives, adding that his government has no intention of introducing a carbon tax as Alberta already has.
In his letter to Whitecap Resources, provided to The Canadian Press, Wall cites reductions to corporate and personal income taxes promised in his recent provincial budget as further incentives, adding that his government has no intention of introducing a carbon tax as Alberta already has.
Premier of Saskatchewan
Legislative Building
Regina Canada S45 083
March 27, 2017
Grant Fagerheim
President and CEO
Whitecap Resources Inc.
3800 - 525 8th Avenue SW
CALGARY AB 12P 1G1
(gfagetheim@weap. %
Dear Mf. Fagetheim:
1 begin, as always, with a thank you to you for your company's very significant
investment in Saskatchewan and for your outstanding corporate citizenry here.
Tam sure you have heard some of the budget related news coming out of
Saskatchewan.
We have signalled and begun a shift away from dependence on resource revenues
and importantly, a second shift towards consumption taxes and away from
income taxes, corporate and personal.
We will begin lowering the rates of each of the latter effective July 1, 2017. When
fully implemented, we will offer the lowest Corporation Income Tax (CIT) rates in
Canada at 11 per cent (along with British Columbia) and our personal income tax
rates will have dropped in each bracket from 15, 13 and 11 per cent to 14, 12 and
10 per cent.
We will also be the only jurisdiction in Canada without a carbon tax.
pouteginaGrant
Page 2
March
Fagerheim
27,2017
Given
would
these major tax changes and your production presence in our province, I
therefore formally ask you to consider a relocation of your head office from
Calgary to Saskatchewan. In addition to the competitive improvements noted
above,
1
2:
Itmay
we would offer a package that would deal with:
Relocation costs (including costs associated with prematurely terminated
leases).
Aggressive new growth tax incentives in the form of either royalty
incentives or further CIT reductions tied to each new job brought to
Saskatchewan.
An offer to help identify affordable and suitable office space, including the
potential of leveraging existing government office buildings as a further
incentive
Help with other hurdles as you define them and as can reasonably be
offered.
well make sense for there to be a cooperative joint move on the part of you
and other companies that are Saskatchewan production oriented. The synergy and
‘economy of scale of such an opportunity would provide even more room on our side
to make the relocation worthwhile in terms of incentives and trouble-shooting.
It is my hope that Whitecap Resources Inc. will consider this invitation very
seriously.
Iand/or the Honourable Dustin Duncan, Minister of Energy and Resources, would
be willing to travel to Calgary to further explore the foregoing at your convenience.
Il the very best,
Bhad Wall
Premier
A
\y
peureginaGrant Fagerheim
Page3
March 27, 2017
cc Honourable Dustin Duncan
Minister of Energy and Resources
pov-egina