Legislative Report
(18 November 2009)

Mid-Year Financial Report

Our government released the Mid-Year Financial update this week, and it reflected the challenge created by lower potash prices. We reacted by taking action to address that challenge. The end result is this: we still have a balanced budget, historic tax cuts remain in place, as do initiatives to support and protect society’s most vulnerable people.

The NDP used the release of the Mid-Year Financial update to advance their “doom and gloom” agenda. Their obsession with negativity is blinding them to all the good things going on in Saskatchewan right now, such as:

1. The fact we have the lowest unemployment rate in all of Canada;
2. Saskatoon has the lowest unemployment rate of any city in the country; Regina is second;
3. According to the Canadian Federation of Independent Business (CFIB), 5 of the top 10 most business-friendly cities in Canada are right here in Saskatchewan (Saskatoon, Moose Jaw, Lloydminster, Regina and Prince Albert) . The CFIB says, quote: “We’ve gone from worst to first.”;
4. The population is growing faster than it has in over 50 years;
5. We have two new cities in our province for the first time in nearly 100 years;
6. The Conference Board of Canada says our economy will grow 3.7 per cent next year – second-highest in the country;
7. The Royal Bank says our economy will grow 3.6 per cent next year – highest in Canada;
8. Laurentian Bank says Saskatchewan will have the standout economy in Canada next year;
9. Dominion Bond Rating Service just gave us a credit rating upgrade, saying “Saskatchewan remains in better position than most other provinces;”
10. Manufacturing sales are up 16 per cent – the highest in Canada;
11. Average weekly earnings are now at an all-time high of 808 dollars a week – third best in all of Canada;
12. The Canada Mortgage and Housing Corporation says housing starts and housing prices will hit a new high level in 2010;
13. Construction is booming – partly because of private investment, and partly because of the biggest government investment in infrastructure in Saskatchewan history;
14. Saskatchewan people have more money in their pockets, because of the largest income tax cut and the largest property tax cut in Saskatchewan history;
15. And, on top of all that, our government has reduced the provincial debt by 2.6 billion dollars, or 40 per cent.

More people, more opportunities, more confidence, and more optimism – THIS is the new Saskatchewan.

Past Legislative Reports