OTTAWA – NDP MP Pat Martin (Winnipeg Centre) has sent a letter to the Speaker of the House of Commons calling for an emergency debate on the transfer of a majority stake in the former Canadian Wheat Board (CWB) to foreign hands.
“It is unacceptable that the Conservatives dismissed a bid from Canadian farmers and chose a foreign-owned company instead,” said Martin. “An emergency debate is required in order to allow parliamentarians to address the substantial negative consequences this decision will have on western grain producers and the competitive marketing and transport of grain in Canada.”
This decision by the Conservatives will grant a majority stake in the former Canadian Wheat Board to a partnership between an American company and a wealth management fund for the Saudi Arabian government. Until it was dismantled by the Conservatives, the CWB pooled the selling power of multiple small farmers and handled transaction costs, playing a critical role in reducing risk and maximizing profits over the long run.