Saskatchewan announces affordability plan as inflation cripples families across the province
Global News
As a result of the surplus, Harpauer has also announced a four-point affordability plan, to help address rising costs due to inflation and reduce the province’s debt.
On Tuesday, the provincial government made a number of announcements on the state of Saskatchewan’s economy and an affordability plan heading into the fall.
Through the first quarter, Saskatchewan is expecting a surplus of $1.04 billion for 2022-23. It’s a $1.51-billion improvement from the announced budget, which they claim is largely due to higher revenue from non-renewable resources.
“That means we can balance the budget, pay down debt and help Saskatchewan residents with the rising cost of living,” Deputy Premier and Finance Minister Donna Harpauer said Tuesday as she released the first quarter financial update. “That’s growth that works for everyone.”
As a result of the surplus, Harpauer has also announced a four-point affordability plan, to help address rising costs due to inflation and reduce the province’s debt.
“Strong resource prices have meant higher provincial revenues, and that’s good news, but it also means the cost of almost everything you buy has gone up,” Harpauer said.
“Saskatchewan people own the resources. Saskatchewan people should benefit when resource prices are high. That’s why we’re going to use higher resource revenues to help address rising costs and to retire up to $1 billion of the province’s debt.”
Point one comes in the form of the Saskatchewan Affordability Tax Credit payment. All Saskatchewan residents aged 18 and older as of Dec. 31, 2022, and who have filed a 2021 tax return as a resident of Saskatchewan will receive a $500 Saskatchewan Affordability Tax Credit cheque this fall.
Point two of the plan is the removal of fitness and gym memberships and some recreational activities from the planned October PST expansion on admissions, entertainment and recreation.