Sask. budget promotes record spending with $273M projected deficit
CTV
Saskatchewan is projecting a $273.2 million deficit for the upcoming fiscal year while announcing 'record increases and spending' for multiple ministries, including education and healthcare, in its 2024-25 budget released Wednesday.
Saskatchewan is projecting a $273.2 million deficit for the upcoming fiscal year while announcing "record increases and spending" for multiple ministries, including education and healthcare, in its 2024-25 budget released Wednesday.
Total expenses are expected to be $20.1 billion, up nearly eight per cent from 2023, with revenue forecasted to be $19.9 billion, an increase of more than $184 million, the province said, adding that it expects to return to a surplus in 2025-26 thanks to increasing revenues.
Combined, the ministries of education and health will receive $10.89 billion in 2024-25, which the province says includes the “largest-ever” increases in operating funding for both ministries.
“Sometime later this year, Saskatchewan’s population will reach 1.25 million people, that’s up a quarter of a million people since our government was first elected. This budget responds to the challenges of a growing province by reinvesting the benefits of a growing province,” Finance Minister Donna Harpauer said.
The province also announced no provincial tax increases or decreases for the upcoming fiscal year.
Harpauer reiterated, however, that Saskatchewan continues to be the most affordable province in Canada.
“Saskatchewan residents will receive additional relief this year as a result of our decision to stop SaskEnergy and SaskPower from collecting the carbon tax on natural gas and electric residential home heating,” she said.
