Insights and Analysis

Saskatchewan Budget 2022-23: Back on Track

Saskatchewan’s Deputy Premier and Finance Minister, Honourable Donna Harpauer, tabled the Government of Saskatchewan’s 2022-23 Budget today at the Legislative Assembly. The province’s finances have improved dramatically from last year’s budget with the forecasted deficit for this year to be $463 million, an improvement of $2.1 billion from last year.  The Government of Saskatchewan continues to forecast a balanced budget by 2026-27.  Revenue is forecast at $17.2 billion, an increase of 18.5 percent from last year’s budget, while expenses are forecast at $17.6 billion, up 3.1 % from Budget 2021-22.  The 4 major areas of government that received the majority of the expenditure increases are Health, Education, Social Services and Justice.Other highlights include:

  • $3.2 billion in capital spending.
  • Expansion of the Provincial Sales Tax (6%) to sporting and entertainment events such as concerts, museums, movies, gym and golf memberships.
  • An $8 million increase to Creative Saskatchewan for film and television productions.
  • Oil forecast to average $75.75 US/barrel, potash at $407 per tonne, Canadian dollar at 80 cents and GDP to increase by 3.7%.
  • An increase of $21.6 million to address the surgical waitlist.
  • A focus on physician recruitment and retention, particularly in rural Saskatchewan.
  • The creation of the Saskatchewan Indigenous Investment Finance Corporation to provide loan guarantees for private sector lending to Indigenous communities and organizations to invest in natural resource and value-added agriculture projects.
  • Enhancement of the Saskatchewan Value-Added Agriculture Incentive. 

The Minister is quoted as saying, “This budget makes significant investments that will get important government services back on track as we come out of the pandemic. This budget will fund thousands of surgeries in the first year of a three-year effort to bring the waitlist down to pre-pandemic levels. This budget helps make access to high-quality child care more affordable. This budget invests in our economy, it invests in health, education, important capital projects and it ensures our investments in those priorities are sustainable into the future.”

For more information on the 2022-23 Saskatchewan Budget, entitled “Back on Track”, please find link to key facts and figures below.

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