Saskatchewan’s education minister is facing a second investigation by the conflict of interest commissioner, this time surrounding investments into two helium companies.
Commissioner Maurice Herauf said in an e-mail Wednesday his office is looking into the matter involving Jeremy Cockrill but had no further comment.
The investigation comes after the Opposition NDP wrote to Herauf earlier this year raising concerns about Cockrill’s investments in Royal Helium and Helium Evolution.
Meara Conway, the NDP’s ethics critic, told reporters that Cockrill needs to explain when he bought shares and what, if any, insider government information he might have been privy to prior to purchase.
“It’s a question of access and power as a member of cabinet, and it’s a question of him having this potential for financial gain,” Conway said Wednesday.
Cockrill, in a statement, said the commissioner is proceeding with the investigation in two areas: conflict of interest and the ban on members participating in government contracts.
He said the commissioner has dismissed more serious allegations from the NDP that the minister might have been insider trading.
“I did not participate in any government decisions regarding the helium industry nor did I have any inside information regarding the industry,” he said in an e-mail.
“I am fully co-operating with the conflict of interest commissioner’s review and am confident that I acted appropriately.
“While the NDP is focused on slinging mud, we are focused on Saskatchewan people and keeping our economy strong to ensure a bright future for everyone.”
Cockrill did not say when he purchased the shares, and the NDP says timing is everything to determine what happened.
It began in late 2021, when Premier Scott Moe’s governing Saskatchewan Party government announced a helium action plan where tax credits would become available for exploratory drilling.
A member’s disclosure statement for Cockrill in 2021 showed no helium investments.
The following spring, in May 2022, Cockrill left the government backbenches and was elevated to the cabinet decision-making table as highways minister.
Two months later, in July, Royal Helium received a government approved tax credit of up to $4.2-million.
Cockrill’s 2022 disclosure statement shows that some time that year he bought shares in Royal Helium. It also shows that he bought shares in Helium Evolution.
Helium Evolution did not immediately respond when asked if it has received tax credits.
Cockrill’s 2023 disclosure statement says he no longer has investments in Royal Helium but has them in Helium Evolution.
Cockrill was appointed education minister in August 2023.
The NDP said that while Cockrill was not in cabinet when the helium tax credit program was launched, he is in cabinet now, with tax credits and permits set to continue being doled out through to 2030.
“Ms. Conway stands by comments that the timeline of events raises the possibility of Minister Cockrill using his power and access as a member of cabinet to benefit his own private financial gain,” the NDP said in a statement.
“Unfortunately, only Jeremy Cockrill can confirm the timing around when he bought his shares and so far, he has failed to do that.”
Cockrill is also under investigation by the commissioner regarding his family window and door business, which received contracts worth nearly $180,000 in 2021 with a public housing authority in North Battleford, Sask.
That business has also signed contracts with the province’s telecommunication Crown corporation, SaskTel, while Cockrill worked as a part-time salesperson there in 2020 and 2021.
The revelation comes as Saskatchewan is days away from the launch of a provincial election, with voting day coming no later than Oct. 28. Cockrill is running again in The Battlefords constituency.
Conway said the commissioner informed the NDP in July that he was proceeding with the helium investigation on Cockrill.
Asked why the NDP waited until Wednesday to make the investigation public, with the election looming, Conway said there was some “back and forth” over the summer with Cockrill and the commissioner.
“I did hope to see a decision sooner, and I do think it’s information people deserve when they’re going to the ballot box,” she said.