The Canadian Taxpayers Federation is disappointed by the Saskatchewan budget’s projected deficit and is calling on the government to get spending under control.
“It’s very disappointing to see the government continue to fail to balance the budget and spend money it doesn’t have,” said Gage Haubrich, CTF Prairie Director. “The government is letting the debt snowball instead of working to pay down the debt and stop wasting so many taxpayers’ dollars on interest payments.”
The budget is projecting a deficit of $273 million for 2024-25. Expenses are projected to rise by $1.48 billion and revenues are projected to rise $184 million over last year’s budget. The government is increasing spending in all departments but one compared to last year’s budget.
By the end of 2025, the debt will be $21.1 billion. Interest payments on the debt will cost taxpayers $728.2 million this year, working out to $597 per Saskatchewanian.
This budget features zero tax relief. The government has decided to freeze the small business rate at one per cent for an additional year instead of hiking it to two per cent.
Other provinces are providing tax relief to their residents. Manitoba cut its own 14 cent per litre gas tax on Jan. 1, and Newfound and Labrador recently extend its gas tax cut.
“Freezing the small business tax rate is the one tiny bright spot in this budget,” Haubrich said. “But Saskatchewan families need relief too and the government is refusing to help them out.”