Outrageous sale of CWB another slap in the face to Canadian farmers

New Democrats are outraged that a majority stake in the former Canadian Wheat Board (CWB) is being sold to a partnership between US firm Bunge and a subsidiary of the Saudi Agricultural and Livestock Investment Co.

“The CWB built a global reputation because of the hard work and investments by Canadian farmers,” said Official Opposition critic for the CWB, Pat Martin (Winnipeg Centre). “After dismissing a bid directly from Canadian farmers, the Conservatives have handed over majority control of one of Canada’s largest global players on a silver platter to foreign ownership.”

Details so far indicate that taxpayers will not be seeing any returns from the sale of this former crown corporation, and the minority share given to Canadian farmers in the new corporation can be revoked completely in seven years at the sole discretion of the new majority owners.

“Once again, farmers get no say,” added Official Opposition Agriculture critic Malcolm Allen (Welland). “This Conservative government has repeatedly failed to consult with Canadian farmers on the CWB, even fighting farmers in court to avoid the legal requirement for consultation.”

Farmers and all Canadians can rely on Tom Mulcair’s NDP to repair the damage done by Stephen Harper and build an economy that works.