We have been warned that this year's provincial budget would have significant control on spending to keep it balanced, and those warnings proved to be true when the document was released today.
Finance Minister Ken Krawetz presented a balanced budget in the Legislature, with revenues projected to be $11.61 billion, and expenditures of around $11.54 billion. The General Revenue Fund is expected to post a small $64.8 million pre-transfer surplus, and a surplus of $149.8 million is forecasted in the Summary Financial Statements, taking into account all government and Crown Corporation operations.
The budget does contain investments in priorities that include infrastructure, education, and support for some of Saskatchewan's most vulnerable residents.
Krawetz announced increased support benefits for the Seniors Income Plan and the Saskatchewan Assured Income for Disabilities program, increases to transit assistance for people with disabilities, and he doubled capital funding for para-transit buses.
He also announced more funding for Women's Shelters in the province, noting expansions to facilities in Regina and Prince Albert and the construction of a new transition house in Melfort as examples.
There will also be an $847.5 million investment in infrastructure funding, up $59.8 million from last year. The capital budget includes investments in projects such as a new school to be built in Gravelbourg, a replacement for the Moose Jaw Union Hospital, and highway projects that include the West Regina Bypass, completing twinning of Highway 11, and installing passing lanes on Highway 10 between Regina and Fort Qu' Appelle.
Krawetz also noted a challenge in developing the province's labour force and affordability of post-secondary education, and included a $20 million increase to direct student support funding to $117.4 million. That incuded a $12.2 million increase to the Graduate Retention Program, $2.9 million more for the Saskatchewan Advantage Scholarship, and increases for other items including apprenticeship training seats and Adult Basic Education.
The budget also includes funding earmarked for a capital project at Leader School. The Chinook School Division says the funding will be used to rebuild the roof at the school, and work is expected to begin soon.
Meanwhile, the Cypress Health Region is still waiting on a funding announcement for a new Long-Term Care Centre in Swift Current to replace the three existing facilities in the city. There were, however, investments to improve primary care and to help attract and retain doctors in rural areas.
Other highlights include:
- $131.8 million increase in funding to health regions
- $10 million to the Saskatchewan Surgical Initiative
- $4.3 million to establish Collaborative Emergency Centres and improvements to primary care
- $14.3 million increase to post-secondary base operating grants
- $7.2 million increase for school capital projects
- Overall $10.8 million increase for initiatives that benefit First Nations and Metis people.
- $5.0 million in funding to the new Creative Saskatchewan Product Development Investment Program to support the creative industries sector
- $576 million in highways and transportation funding
- $27.0 million increase in municipal revenue sharing
- A record $198.3 million Crop Insurance budget.
The government is also lowering education property tax rates to offset an average 67 per cent increase in property values. The new education mill rates are 2.67 mills for agricultural land, 5.03 mills for residential property, 8.28 mills for commercial property, and 11.04 mills for a new resource property category.
Effective tonight, the Tobacco tax rate will go up by 4.0 cents per cigarette with a comparable increase to cut and loose tobacco. Liquor mark-ups will also go up by around 3.0 per cent in all beverage categories, effective April 1st.
The budget also notes a year-end balance forecast of $695.1 million in the Growth and Financial Security Fund, which will allocate $512.7 million to address unforseen events out of the government's control, and $182.4 million for future infrastructure funding and debt reduction. The money has not been allocated to any specific projects until the impact of spring flooding is known, so the money will cover any flooding costs if needed.
Tue, May 7, 1:00 PM
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