Last week, The Canadian Taxpayers Federation (CTF) called on the Saskatchewan government to balance the provincial budget, cut taxes, and control spending in the provincial budget, which will be unveiled in Legislature later this afternoon.
Gage Haubrich, the CTF’s Prairie Director, said that the government has no reason not to balance the budget this year.
“The province can’t keep piling debt onto the backs of taxpayers and future generations,” he stated.
The projected debt interest charges for 2022-2023 are more than $620 million.
With $620 million, the province could have enough money for two brand-new children’s hospitals or allow for a one percentage point cut in the PST.
“Saskatchewan needs to get its debt under control, so money isn’t wasted on interest payments,” added Haubrich. “Balancing the budget means more money left over for services and tax cuts.”
In 2009, the provincial debt was $4.15 billion. By the end of this March, it will reach $17.1 billion.
“Under this government’s watch, the debt has grown by 312 percent. Now is the time to keep the books balanced and start paying down the province’s massive debt load,” he concluded.