October 23, 2018
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MLA Report (7 December 2007)

Mid-Year Financial Report

Finance Minister Rod Gantefoer released the province’s mid-year financial report on November 29. The news is mixed.

On the bright side, the province’s revenues are almost $1 billion higher than forecast for the current fiscal year. This is mostly from the booming resource sector, one-time revenue, and the NDP privatization of a Crown asset.

Unfortunately, under the previous NDP administration, expenses also skyrocketed. In a wild, last-ditch attempt at re-election, the Calvert administration embarked on an unsustainable spending spree. Finance department officials (the same officials that worked under the NDP) project a $4 billion deficit over the next four years if spending is not brought under control.

Your Saskatchewan Party government is committed to ensuring that won’t happen. Spending will be brought under control and a long range plan for balanced budgets will soon be unveiled that will also include debt reduction.

This will require prudent spending decisions in the days ahead. Your government is leading by example. One of the first decisions we made as a new government was to commit to hiring fewer staff in the premier’s office and minister’s offices. As a result, we will have a lower net cost in political staffing than the previous government.

There are more difficult choices that lie ahead. I was pleased to hear Premier Wall’s response. "Our government is committed to sound management, balanced budgets and a growing economy, and we will deliver on our campaign promises within a balanced budget,” he said.

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