Lack of land sales and growing debt highlight GTH Annual Report

The Global Transportation Hub’s annual report is showing major concerns for taxpayers as on top of the $150 million that has been already dumped into it, the debt level has risen to $40 million and the Sask. Party has made no land sales.

“I think the people of Saskatchewan should be concerned that the Sask. Party has so badly mismanaged the GTH with their sketchy land procurement methods that cost taxpayers millions of dollars and their lack of land sales despite constant assurances that they were going to happen,” said NDP GTH Critic Cathy Sproule. “It’s been a boondoggle and Saskatchewan taxpayers have been left on the hook to pay the tab.”

Despite again projecting $10 million in land sales, the Sask. Party did not sell a single acre and there is zero revenue from this stream. The outstanding loan from the Royal Bank of Canada has grown from $24 million to $28 million and the line of credit debt continues to grow. Interest payments are also continuing to grow, as taxpayers are now paying $845,000, up from $635,000 the year before.

The Sask. Party has paid millions of dollars for borrow pits that weren’t used by the foreign conglomerate that was hired by the Sask. Party to build the Regina Bypass. The annual report shows the outstanding millions of dollars is now recorded as a liability on the GTH books, to be paid back when land is sold or developed.

“This latest annual report shows why the people of Saskatchewan deserve a judicial inquiry into all the Sask. Party’s mismanagement at the GTH,” Sproule said. “It’s concerning that the Premier would order the Deputy Premier to reverse his stance on a judicial inquiry and walk away from his promise to launch one. With the debt growing and so many questions left unanswered, this government just wants to walk away instead of providing transparency and openness to the people of the province.”