Sask. finance minister pledges to deliver balanced budget Wednesday
Saskatchewan's political watchers will have their eyes fixed on Regina today as the provincial government releases its 2019-20 budget.
Finance Minister Donna Harpauer promises the budget, titled The Right Balance, will be balanced and may even leave the province with a slight surplus.
The news comes after a mid-year financial update in November projected a 2018-19 deficit of $348 million, a decrease of $17 million from initial budget predictions.
Speaking to reporters on Monday, Harpauer promised the province had tightened its belt.
Meanwhile, Opposition NDP finance critic Trent Wotherspoon questioned whether the budget would in fact be in balance, and said if would not be a truly balanced budget if Crown corporation debt increases.
The governing Saskatchewan Party had promised that it would balance the budget over a three-year term, despite continuing low oil and gas prices.
In the November update, the province forecast an increase of $121.1 million in expenses, due to increases in spending on pensions, heath services and forest fire operations.
The province also noticed an increase in child and family services caseloads, as well as pressures on the correctional system.
Record spending last year
Last year's budget boasted record-high spending in health and social services, including $11.4 million for new mental health initiatives, as well as the announcement the province would cover 100 per cent of HIV medications, at a cost of $600,000.
The province also made children under the age of six with autism spectrum disorder eligible for $4,000 in funding per year, costing the government $2.8 million.
Premier Scott Moe also announced his plan to hire 400 teachers and education assistants at a cost of $30 million.
Meanwhile, the province kept the provincial sales tax at six per cent, after raising it one point in 2017. However, it eliminated a PST exemption for light used vehicles, scrapped an exemption for Energy Star appliances and announced the tax would apply to the retail sale of cannabis.
The province also said it would be aiming for a $70-million reduction in compensation savings over two years, raised through "efficiency initiatives" and "overtime management." The province said no layoffs would be associated with the budget.
The 2018 budget estimated provincial debt would surpass $20 billion by the end of this month.
As always, the details of the latest budget will be a tightly guarded secret until it is officially presented at 2 p.m. CST.
