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On Tuesday morning, Finance Minister Jim Reiter is expected to give an update on the Government of Saskatchewan’s balance sheet with the mid-year financials.
In the government’s first-quarter update, Reiter announced the province was forecasting a $348.5 million deficit after budgeting for a $12 million surplus in the spring.
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Expenses were up due to pension changes and an $80 million increase to the costs associated with the severe wildfires the province saw over the summer months.
Revenue from SaskPower was down $163 million due to the province no longer charging its industrial carbon tax, known as Output Based Performance Standards.
In a news release, Reiter talked about economic uncertainty creating challenges, but called the province’s financial position “stable.”
More to come.
