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Opposition Leader Gerry Reid says he is disappointed with the proposal put
forward by FPI that would allow them to sell off 40 per cent of the value
added and marketing division and place it in an income trust. This division
of FPI is their most valued asset and generates approximately 60 per cent of
FPI revenues. "There are many areas of concern related to this Income
Trust proposal," said Mr. Reid. "My first concern is for the future of FPI’s
operations in the province. In return for allowing FPI to sell off part of
their most valuable asset, the people of this province, especially those
communities that have FPI plants, get very little. Harbour Breton requested
part of FPI’s traditional fish quotas to secure the long-term viability of
the community, but were refused. Burin or Fortune will get 201 jobs in
secondary processing, nowhere close to replacing the more than 300 jobs that
were eliminated last year. FPI isn’t even guaranteeing the future of their
Bonavista plant.
"The company is saying that no other plants in the province will close
over the next five years. However, this is subject to each plant’s economic
viability and resource availability. With the excuses that FPI has been
making regarding their operations in Harbour Breton, this is not a very
solid guarantee for any FPI plants in the province.
"I am also very disappointed in the provincial government. We have been
asking to receive the legal opinions related to whether this proposal
contravenes the FPI Act. The Premier promised in the House of Assembly on
December 7th that he would release these opinions when a free
vote was going to take place. This morning, we were once again refused
access to these documents. If we are to have an informed debate, these
documents must be released to ensure all members are well prepared. I am
asking that the Premier release these opinions and delay this important
debate until next week so that all members may have sufficient time to be
briefed and carry out consultations with their constituents.
"FPI has made promises and commitments in the past that they have failed
to honour. The promises and commitments made in this proposal are not
concrete and raise several concerns. While I am apprehensive about this
proposal, each of our caucus members will have a free vote. I am confident
that after weighing all of the facts, Members of the House of Assembly from
all parties will vote to reject this proposal."
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