Mr. Speaker, this situation cannot persist. I call on the government to extend the same provisions it has guaranteed to Nova Scotia and Newfoundland, in what has been dubbed the Atlantic accord, and to exclude non-renewable resource revenues in Saskatchewan and other provinces from the equalization formula. Only by ensuring such an equitable approach among the jurisdictions can the true spirit and practice of equalization be realized.
The current configuration of the equalization formula is highly complex and involves many interrelated factors. It is the result of many decisions, spanning many years and many governments. None of these decisions were deliberately undertaken to specifically cause or contribute to Saskatchewan's economic difficulties. Nevertheless, it has and will continue unless action to remedy the situation is taken.
While altering the equalization formula to exclude non-renewable resources by itself will not change the economic reality in Saskatchewan, it is an essential first step for revitalizing the province's economic health and it is the right thing to do.
In closing, I note that the Prime Minister, upon signing the Atlantic accord, said that the agreement presented an extraordinary opportunity for the signatories to seize their potential and build for themselves and for their children a more prosperous future. However the federal government is seemingly unwilling to make similar accommodations for other provinces. Apparently, helping provinces like Saskatchewan build a prosperous future is not an easy thing for the government to do.