REGINA: The Canadian Taxpayers Federation (CTF) today welcomed changes to oil and gas taxes, but added that similar cuts should be extended to the rest of Saskatchewan residents.

"Premier Calvert's remarks that tax cuts stimulate the economy and create jobs is right on the money - and exactly what the CTF has been arguing for years," says new CTF Saskatchewan Director David MacLean. "What he isn't saying is that the same logic applies to the rest of the economy."

The government announced an overhaul to the oil and gas royalty and tax system that they believe will result in billions of dollars worth of investment in Saskatchewan. Changes include new lower royalty and tax structures, a new system of volume incentives, and a reduced Corporation Capital Tax Surcharge rate.

The CTF has consistently advocated tax relief as the best means to spur economic growth, create jobs, diversify the economy and retain the province's tax base. In its 2002 pre-budget submission to the provincial government, the CTF recommended cuts to personal income tax, a review of property and school taxes, and a freeze on increasing the PST.

"This morning the Premier expressed, in writing, his commitment to fiscal changes that will make Saskatchewan the most competitive jurisdiction in Canada," says MacLean. "We look forward to seeing this commitment reflected in government policy beyond the oil and gas sector."

MacLean took over as CTF Provincial Director on October 1, replacing Richard Truscott.