Legislative Report
(9 December 2009)
Promising Year Ahead
With the festive season comes the turning of the year. By all indications, 2010 will be another good year for the province of Saskatchewan. Here’s why:
- The 2010 budget will be a balanced budget. This will be achieved by holding the line on government spending and continued growth.
- Our government has reduced debt. When we took office in 2007, the debt was $6.8 billion and there was $1.2 billion in the provincial savings account. Today, debt has been reduced to $4.2 billion and there is $600 million in the savings account. That’s a net improvement to the bottom line of $2 billion.
- In addition to reducing the province’s debt by $2.6 billion, our government has delivered the largest income tax cut in Saskatchewan history, the largest property tax cut in Saskatchewan history and the largest investment in infrastructure in Saskatchewan history - $2.3 billion over two years to build and repair highways, schools, hospitals and important community infrastructure projects.
- Our government has doubled the benefit for low-income seniors, and thanks to our tax cuts, 80,000 low income people no longer pay any income tax.
The 2009 budget has taken a serious hit because of the decline in potash sales this year to levels not seen since 1972. However, the rest of our economy remains strong because:
- Saskatchewan has the lowest unemployment rate and the best job creation record in Canada in 2009.
- Saskatoon has the lowest unemployment of any Canadian city. Regina is second.
- Saskatchewan’s population is up by over 16,000 this year – the fastest rate of growth in over 50 years.
- Average weekly earnings have never been higher, which means Saskatchewan people are earning more, and taking home more of what they earn thanks to our government’s income tax cuts.
- Saskatchewan is forecast to lead the country in economic growth in 2010.
The combination of a strong and growing economy, coupled with our government holding the line on spending, will ensure a balanced budget in 2010. Saskatchewan will continue to move forward.
Legislative Report
(9 December 2009)
Promising Year Ahead
With the festive season comes the turning of the year. By all indications, 2010 will be another good year for the province of Saskatchewan. Here’s why:
- The 2010 budget will be a balanced budget. This will be achieved by holding the line on government spending and continued growth.
- Our government has reduced debt. When we took office in 2007, the debt was $6.8 billion and there was $1.2 billion in the provincial savings account. Today, debt has been reduced to $4.2 billion and there is $600 million in the savings account. That’s a net improvement to the bottom line of $2 billion.
- In addition to reducing the province’s debt by $2.6 billion, our government has delivered the largest income tax cut in Saskatchewan history, the largest property tax cut in Saskatchewan history and the largest investment in infrastructure in Saskatchewan history - $2.3 billion over two years to build and repair highways, schools, hospitals and important community infrastructure projects.
- Our government has doubled the benefit for low-income seniors, and thanks to our tax cuts, 80,000 low income people no longer pay any income tax.
The 2009 budget has taken a serious hit because of the decline in potash sales this year to levels not seen since 1972. However, the rest of our economy remains strong because:
- Saskatchewan has the lowest unemployment rate and the best job creation record in Canada in 2009.
- Saskatoon has the lowest unemployment of any Canadian city. Regina is second.
- Saskatchewan’s population is up by over 16,000 this year – the fastest rate of growth in over 50 years.
- Average weekly earnings have never been higher, which means Saskatchewan people are earning more, and taking home more of what they earn thanks to our government’s income tax cuts.
- Saskatchewan is forecast to lead the country in economic growth in 2010.
The combination of a strong and growing economy, coupled with our government holding the line on spending, will ensure a balanced budget in 2010. Saskatchewan will continue to move forward.