REGINA – Upcoming legislation impacting Information Services Corporation is raising alarm bells this week from the opposition New Democrats.
At a news conference Monday, Opposition critics Aleana Young and Nicole Sarauer raised concerns that the provincial government was going to change the ownership structure of Information Services Corporation. The NDP says the government has given notice they will introduce the Information Services Corporation Amendment Act on Tuesday, but add they do not know what will be in it.
At their media availability, Young and Sarauer raised concerns the province was about to sell off the entity to a private owner.
“Now ISC is not just another crown or government asset,” said Young.
“It offers a system of land titles and a registry system. This is a system that underpins property ownership, real estate transactions, mortgages and lending, and economic activity across the province. And frankly, this is foundational for the economy of Saskatchewan.”
Young said any move towards selling ISC to a private owner would ultimately cost Saskatchewan people more money.
“This will mean higher fees for land transfers and increased costs for homebuyers and farmers, more expensive real estate transactions across the board.”
Young also pointed to what happened in 2012 when the province had first moved on ISC. She noted the government had made promises that the public would retain control over any major ownership changes, that a ‘golden share’ would protect Saskatchewan-based operations, and that a 15 per cent ownership cap would prevent the concentration of control.
Young accused the government of a potential “shift away from these commitments.”
“Legislation anticipated tomorrow could potentially open the door to full private control. And this brings real risks and reduced transparency — the monetization of public registry data and long-term contracts that could lock Saskatchewan people into higher costs out to 2053.”
Sarauer told reporters the land titles registry is “not a typical commercial asset. It's the legal foundation of property ownership in Saskatchewan.”
“Every single mortgage, every land sale, every major investment depends on the integrity of this system. Moving this system into private hands raises serious concerns about accountability, oversight, and long-term control.”
She raised the spectre of privatization and said costs could rise with little recourse, and sensitive registry data could be treated as a commercial asset.
“This is about more than policy. This is about trust. People were promised this system would remain protected. We are calling on the government to back off any potential sale, be fully transparent about their plans, and clearly outline how they will maintain control, protect data, and keep costs affordable.”
ISC is going through a strategic review at the moment. As for what the legislation to be introduced Tuesday will do, Young replied: “We're not sure.”
“Of course, typically you don't introduce legislation to keep something the same. The government moving to change the legislation and potentially the regulations during a strategic review is interesting, to say the least.”
Young added there has been “extensive reporting” about interest in acquiring ISC.
“Last week, I think it emerged there's one prospective buyer, which is a fully private company out of Quebec. And having not seen the legislation, of course, we don't know. But we're concerned. We're concerned that the government is essentially changing the rules during this strategic review with a potential sale on the horizon. So our concern would be that the government is potentially making changes to make ISC more attractive for private buyers, and to basically make changes to ensure that this sale goes through.”
When asked about the issue during Question Period, Minister of Crown Investments Corporation Jeremy Harrison had this to say:
“As the House is well aware, as we've been discussing this for a year, there is a strategic review that is underway and has been initiated by the Board of ISC. The government has been supportive of the strategic review being undertaken, with the provisions that the golden share and the best interests of the Saskatchewan public are top of mind in that review, including keeping the head office in Saskatchewan, protecting jobs here in this province, potentially even growing ISC into new markets and ensuring land titles fees remain affordable.
“Those are the cornerstones of the strategic review. No recommendation has been made, and we would look forward to when that strategic review is completed, making decisions at that point.”
When pressed further by Young about whether “all of those critical promises related to ISC be kept going forward,” Harrison reiterated the conditions that were laid out for the review.
Harrison told the Assembly that the “best interests of the Saskatchewan public and the Saskatchewan economy have been top of mind. That's the direction that we've given to the directors representing the government on the ISC board, Mr. Speaker.
"The strategic review continues. We look forward to a recommendation from the board to the government, Mr. Speaker. We did support the strategic review being undertaken, and we are going to make sure that the interests of this province are top of mind through this entire process.”
