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2021 pandemic budget forecasts deficit of $2.6 billion

The budget’s focus, she said in an embargoed news conference Tuesday morning, is on protecting the “health and public safety of Saskatchewan people and the province s economy in the fight against COVID-19,” while making “record investments in health care, education, social services, and the protection of people and property.”
This budget “will protect Saskatchewan people through the pandemic, as more vaccines are delivered and life begins to return to normal, Harpauer said in speaking to reporters in an embargoed news conference Tuesday. This budget will build Saskatchewan by investing in new long-term care facilities, hospitals, schools, highways and vital municipal infrastructure. And as our province and our economy emerges from the pandemic, this budget will grow Saskatchewan through incentives and key investments, while keeping life affordable for families. ....

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How the 2021-22 Saskatchewan budget affects you

Here are some of the ways the Saskatchewan budget, released Tuesday, could affect people in the province.
Money goes out …
The government is changing Education Property Tax mill rates for the first time since 2017, a move that’s expected to generate $12 million in revenue.
In 2021, the mill rates for the various property classes will be 1.36 per cent for agricultural, 4.46 per cent for residential, 6.75 per cent for commercial/industrial, and 9.79 per cent for resource. Those numbers previously were 1.43 per cent for agricultural, 4.12 for residential, 6.27 for commercial/industrial and 9.68 for resource.
The change will cost residential homeowners on average $18 more a year. ....

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Saskatchewan budget projects $2.6 billion deficit this year, no balance until 2026-27

Saskatchewan budget projects $2.6 billion deficit this year, no balance until 2026-27
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The Saskatchewan Provincial Budget was dropped Tuesday, with an anticipated $2.6 Billion deficit along with it.
In the province’s budget address, it was announced that the Government, on this plan, would see a balanced budget in 2026-27, with the deficit being lowered in increments through that time. The increments include deficits of $1.7 billion in 2022-23, $1.2 billion in 2023-24, and $770 million in 2024-25. A return to balance is expected in 2026-27.
In total, revenue would be up to $14.5 Billion, up 6.1 per cent from the original budget. However, the expense is up 6.3 per cent to $17.1 billion from the 2020-21 budget. ....

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Sask. adds 20 per cent retail tax for vape products

Sask. adds 20 per cent retail tax for vape products
saskatoon.ctvnews.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saskatoon.ctvnews.ca Daily Mail and Mail on Sunday newspapers.

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Saskatchewan's 2021-22 budget: Winners and losers

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Winner: Red ink
The 2021-22 provincial budget drives the final nail into the coffin for the Sask. Party’s 2020 election promise to balance the provincial budget by 2024. Finance Minister Donna Harpauer had telegraphed in early March that the balanced-budget pledge was in doubt, pointing to the economic ravages of the COVID-19 pandemic. This year’s budget includes a $2.6-billion deficit, which is significantly higher than the $1.7-billion projected at election time. The Sask. Party is now predicting steadily shrinking deficits with a return to balance expected by 2026-27.
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