Best practice across the corporate sector is to have knowledgeable private sector interests represented on boards and agencies. The Honourable Kathy Dunderdale, Minister of Natural Resources, said today that this best practice is precisely why Mr. Bill Fanning was recently appointed to the Bull Arm Corporation along with several other competent and qualified Newfoundlanders and Labradorians.

"To suggest that Mr. Fanning would use his new position to benefit his private interests is not only offensive, it actually calls into the question the integrity of every private citizen who is appointed by the government to a board or agency," said Minister Dunderdale. "Mr. Fanning is an exemplary example of the expertise that is required on these boards as we continue to develop the oil and gas industry. To suggest that appointed individuals are using their positions to benefit themselves is extremely unfair, and that type of rhetoric will only serve to discourage citizens who have a contribution to make to the betterment of this province.

"Furthermore, to suggest there is a conflict of interest because Mr. Fanning is associated with a company which is in the Premier�s blind trust completely goes against the purpose, principle and function of blind trusts."

"When the Premier entered into government he put all of his assets into a blind trust which is operated by third party individuals," added the minister. "If the Opposition are so adamant that there is a conflict of interest here, then they clearly have no concept of the functionality and purpose of a blind trust. What is the purpose of forcing elected officials to put their assets into a blind trust and then completely dismissing it as an effective public policy? The people of this province have absolutely no reason to question the integrity and honour of Premier Williams, who has sacrificed a great deal personally to lead this province into a brighter and more prosperous future. The Opposition should be equally ashamed to question the integrity of Mr. Fanning who I know will serve the best interests of this province."

Minister Dunderdale added that even though it was felt that there was no perceived conflict of interest, Premier Williams did contact the Commission for Members Interests, and he confirmed that there was no conflict of interest in the appointment of Mr. Fanning.

Media contact:
Tracy Barron
Director of Communications
Department of Natural Resources
709-729-5282, 690-1703
tracybarron@gov.nl.ca