Mr. Speaker, the formula used to calculate equalization payments is anything but equal or fair to the people of Saskatchewan. Constituents in my riding are angry. The province's energy revenues have been clawed back at a rate of more than 100%. The math does not add up.
My province, already suffering from the economic effects of a declining population and the crisis in agriculture, will now see its equalization payment drop significantly. The finance minister says that the equalization program could not possibly fix all of Saskatchewan's financial woes. That is true. We have endured a decade of a failed socialist experiments at the provincial level. Even so, Saskatchewan should get what it deserves.
The complicated formula used to justify this unbalanced tax back is up for renewal. This is the time to do it right for all of the provinces.