Sask. Party blocks attempts to get answers on $16 million loss from public purse

On Wednesday morning the Sask. Party government shut down a motion that would have compelled the manager of two government investment funds to explain a $16.4 million combined loss.

At this morning's meeting of the Standing Committee on Crown and Central Agencies, Sask. Party government members voted down a motion from NDP Central Services Critic Cathy Sproule to question Grant Kook about the losses racked up by the First Nations and Metis Fund (FNMF) and Saskatchewan Immigrant Investor Fund (SIIF), both of which were bankrolled with public money.

Today’s move echoes previous Sask. Party manoeuvres to block testimony from Laurie Pushor and Bill Boyd when the GTH land scandal was before the committee.

Westcap Management was paid $10.7 million to manage two investment funds for government. The $16.4 million loss raises serious questions about the investment strategy.

“These public funds can and should serve as important community development tools, but the losses piling up under the management of a well-connected Sask. Party insider raise very serious questions the CEO should be made available to answer,” said Sproule.

“Mr. Kook is managing public dollars on behalf of Saskatchewan people, and we deserve answers on what happened to our money. Yet again this government is letting Saskatchewan people down by blocking transparency and accountability.”

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