Sask. budget slashes $2B from deficit, new PST on some services skpoli
Fuelled by economic growth, the province on Wednesday has projected a reduced deficit of $463 million in a budget that Finance Minister Donna Harpauer says is putting Saskatchewan into a “clear path” to balance.
Saskatchewan is expected to bring in $2.9 billion in non-renewable resource revenue, largely driven by higher oil and potash prices. This is an increase of $1.6 billion when compared to last year. The province anticipates deficits will decrease over the next three years. It’s projecting a $165 million shortfall by 2025-26, though Harpauer is optimistic Saskatchewan could possibly see a better outcome.
“This is a no help budget, not a stitch of relief for working families that are doing all they can to keep their heads above water to pay the bills,” said NDP finance critic Trent Wotherspoon, adding there are 32 new taxes and fee hikes. Harpauer argued the budget addresses affordability by reducing child-care costs and boosting the the low-income seniors plan. The province has also previously reduced personal income taxes and offers tax credits for a number of programs, she said.
Addressing the pandemic, the province has earmarked $95 million for the COVID-19 response. Previously, however, the government has spent more on COVID-19 than what was anticipated given pressures on hospitals.
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