REGINA, SK: The Canadian Taxpayers Federation (CTF) applauds the Saskatchewan government’s decision to hold the line on taxes and operational spending in the 2015 budget, but the additional $713 million in borrowing is disappointing.
“The Saskatchewan government did the right thing by making difficult decisions in the provincial budget rather than downloading that stress to family budgets through tax increases,” said Todd MacKay, CTF Prairie Director. “But adding more than $700 million to existing debt is creating a heavy burden for the province to carry for years to come.”
The Saskatchewan government is earmarking the $700 million in borrowing for capital projects. The $1.3 billion of core government infrastructure spending represents an increase in capital spending of 48 per cent over last year's budget. The province is increasing debt by 16 per cent this year.
“Infrastructure spending is important, but it has to be affordable and a 16 per cent jump in debt will run the up the CTF's Debt Clock for Saskatchewan by almost $2 million every day,” said MacKay. “This one time capital spending will create future costs as buildings have to be staffed and new roads will have potholes to fill.”
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For more information, contact:
Todd MacKay, Prairie Director - Canadian Taxpayers Federation
306-582-7717 (cell)
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