Saskatchewan Stops Pension Funds From Buying Farmland
Saskatchewan is clamping down on the sale of the province’s farmland to major Canadian pension funds and institutional investors, restricting deep-pocketed groups at a time when land prices are climbing, reports the Globe and Mail.
Ag Minister Lyle Stewart said Monday that Saskatchewan will undertake a review of provincial farmland ownership rules. In the meantime, pension plans, administrators of pension fund assets and trusts will not be allowed to purchase land, adding to the already stringent rules in place to prevent foreign investors from profiting from the industry.
"Our goal is not to limit investment, but to ensure the long-term success of Saskatchewan’s agriculture industry and economy,†said Mr. Stewart in a statement. More details about the government’s review and consultation process will be released later this spring. “We want to hear from producers and other interested Saskatchewan residents,†Stewart said.
Ok this I like. See when your a farmer you take pride in ownership each piece you purchase is part of a puzzle. If a quarter in your puzzle that your missing comes up for sale you bid and hope to get. If you don't its no big deal just something to talk about the one that got away. But if its purchased by the Canada Pension plan at top of the market why the hell would any one want this in their back yard. Really go to your accountant and talk about selling out your farm ask him how much fed money you will have to send to Ottawa then think real hard how some of that money is being spent back in Saskatchewan buying out your neighbour that you bid on. Now again tell me how this is such a wise decision.
Stop the pension funds from buying property.
I can compete against the One earths, the Broad acres and all others. Bring on Farmers from South Africa who want to farm. They move in to your community and become part of it. That's farming not Foreign pension funds or fed money buying land. Funny the Guy who bought by us and became a new Canadian has lived the last 7 months back home. Yea he really is Canadian. HINT WINK WINK.
Saskatchewan is clamping down on the sale of the province’s farmland to major Canadian pension funds and institutional investors, restricting deep-pocketed groups at a time when land prices are climbing, reports the Globe and Mail.
Ag Minister Lyle Stewart said Monday that Saskatchewan will undertake a review of provincial farmland ownership rules. In the meantime, pension plans, administrators of pension fund assets and trusts will not be allowed to purchase land, adding to the already stringent rules in place to prevent foreign investors from profiting from the industry.
"Our goal is not to limit investment, but to ensure the long-term success of Saskatchewan’s agriculture industry and economy,†said Mr. Stewart in a statement. More details about the government’s review and consultation process will be released later this spring. “We want to hear from producers and other interested Saskatchewan residents,†Stewart said.
Ok this I like. See when your a farmer you take pride in ownership each piece you purchase is part of a puzzle. If a quarter in your puzzle that your missing comes up for sale you bid and hope to get. If you don't its no big deal just something to talk about the one that got away. But if its purchased by the Canada Pension plan at top of the market why the hell would any one want this in their back yard. Really go to your accountant and talk about selling out your farm ask him how much fed money you will have to send to Ottawa then think real hard how some of that money is being spent back in Saskatchewan buying out your neighbour that you bid on. Now again tell me how this is such a wise decision.
Stop the pension funds from buying property.
I can compete against the One earths, the Broad acres and all others. Bring on Farmers from South Africa who want to farm. They move in to your community and become part of it. That's farming not Foreign pension funds or fed money buying land. Funny the Guy who bought by us and became a new Canadian has lived the last 7 months back home. Yea he really is Canadian. HINT WINK WINK.
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