Surplus for Saskatchewan

Saskatchewan Finance Minister Ken Krawetz brought forward the 2015-2016 budget for the province March 18 and as expected announced a surplus.

According to a CTV News article, the Saskatchewan government delivered a surplus budget that holds the line on tax increases and puts quite a few bucks aside for infrastructure spending, despite the plunge in oil revenues.

The province’s overall revenue is expected to exceed last year’s projection of $14.28 billion by 1.2 per cent. Spending will increase overall by 1.2 per cent as well, to $14.17 billion.

That leaves the province with a projected surplus of $107 million.

Seniors and families with young children came out of the budget with a few benefits: families who register their children in sports will be offered a tax incentive if earn less than $60,000 annually;  some 6,000 seniors will benefit when the Seniors Drug Plan threshold shifts from $65,500 to $80,000.

Three quarters of all expenditures in this years’ budget will be put towards health, education and social services. Some $581 million will be put towards transportation infrastructure, $74.5 million towards municipal infrastructure, $248.5 million towards school and education capital costs, and $210.5 million will be spent on initiatives for First Nations and Metis people. Funds for social services went up 3.2 per cent to $1.2 billion and $26.9 million will be spent on training.