THE RIGHT BALANCE

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MINISTER S MESSAGE, I am pleased to table the 2019 20 Budget and supporting documents for public discussion and review. FISCAL PICTURE, The 2019 20 Budget is balanced the fulfilment of our Government s three year fiscal plan A surplus of. 34 4 million is projected for 2019 20, Revenue is forecast at 15 03 billion up about 782 million or 5 5 per cent from last year s budget. Expense is forecast at 14 99 billion up 382 million or 2 6 per cent from last year. THE RIGHT BALANCE, The 2019 20 Budget provides the right balance for Saskatchewan. It will help strengthen the economy and contains no tax increases. It balances careful spending with priority investments for Saskatchewan people in health care classrooms. and for seniors and vulnerable families This Budget includes investment into needed infrastructure for a. growing province, Balancing this year s Budget was made possible by our Government s commitment to address challenges.
and to chart a course that ensures a bright future for our children and generations to come. In the years ahead finding the right balance will continue to be the foundation of our Government s. sustainable fiscal plan,Honourable Donna Harpauer,Minister of Finance. TA B L E O F C O N T E N T S,MINISTER S MESSAGE,GOVERNMENT DIRECTION FOR 2019 20. The Right Balance 6,SASKATCHEWAN BUILDS CAPITAL PLAN 18. TECHNICAL PAPERS,The Saskatchewan Economy 27,2019 20 Financial Outlook 37. 2019 20 Borrowing and Debt 48,2019 20 Revenue Initiatives 53.
Saskatchewan s Tax Expenditures 55, 2019 Intercity Comparison of Taxes and Utilities 59. 2018 19 Budget Update Third Quarter 63,BUDGET FINANCIAL TABLES. Statement of Accumulated Deficit 69,Statement of Change in Net Debt 69. Schedule of Pension Liabilities 70,Schedule of Capital Assets 70. Schedule of Public Debt 71,Schedule of Revenue 72,Glossary of Financial Terms 73.
SASKATCHEWAN PROVINCIAL BUDGET,GOVERNMENT DIRECTION FOR 2019 20. Government Direction for 2019 20,THE RIGHT BALANCE. industries which in turn significantly reduced,The 2019 20 Budget is a balanced budget and it is. government revenue,the right balance for Saskatchewan. While some jurisdictions similarly impacted by these. This Budget balances carefully managed spending,or their own unique challenges have chosen a path.
with investment into health care support for,of continued deficits Saskatchewan charted a. seniors support for vulnerable families and funding. different course one that provides a bright future. for Saskatchewan s classrooms to help improve the,for its people. lives of the province s people today and into the, future Higher average prices for potash and oil prices that. have recovered somewhat from the lows of past years. This Budget invests in much needed infrastructure,have helped our mining and oil and gas sectors. for a growing province and it delivers the right,Agriculture the manufacturing sector the value of.
balance for investment in both urban and rural,our exports and other aspects of the economy are. Saskatchewan, This Budget contains no new taxes or tax increases. The 2019 20 Budget strikes the right balance by, and it s the right balance to strengthen our economy. keeping taxes low and carefully managing spending,and make life affordable for Saskatchewan people. while providing needed support to classrooms to, Budget 2019 20 is a balanced budget delivering a health care to seniors and for those children families.
strong and sustainable fiscal plan as Saskatchewan and individuals who are most vulnerable. continues to be the best place in Canada to live,Investment through Government s capital plan to. to work to start a business to get an education to. build hospitals and long term care facilities schools. raise a family and to build a life, safer highways and key municipal infrastructure for. Saskatchewan people is an important part of the,2019 20 Budget. Saskatchewan s budget is balanced,The 2019 20 Budget sets Saskatchewan on a. It is the culmination of a three year fiscal plan It is sustainable fiscal path that will ensure a balanced. the result of careful and disciplined expense budget not just this year but also in the years ahead. management along with a shift away from reliance, Balance is important because Saskatchewan continues.
on volatile resource revenue to a stronger broadened. revenue base, The province s population is more than 1 16 million. Saskatchewan s balanced budget is the outcome, an increase of more than 160 000 people since 2007. of decisions to address a deep persistent global,Budget 2019 20. downturn in the resource sector that began in 2014. and impacted the province s oil and mining, People come here to live to raise families to start unique and important facility is just part of the. businesses and to build a better life because Government s significant commitment to improve. Saskatchewan is a place of opportunity mental health services across the province. This province is also a place of compassion Its This commitment to mental health includes increased. strength is in all of its people operational funding at SHNB as well as dedicated. increased funding for mental health and addictions. As part of this Budget a new municipal revenue, services and increased funding to improve access to.
sharing formula is in place and revenue sharing will. mental health supports,increase for all rural urban and northern. municipalities Building on an initiative announced last year for. children with autism in this Budget the Autism,This Budget continues to improve care for seniors. Individualized Funding benefit is increasing for each. with investment to replace the Northland Pioneers, child under the age of six helping children and their. Lodge in Meadow Lake fulfilling Government s,families access the support they need. commitment to replace 13 long term care facilities in. the province Funding to Saskatchewan classrooms will increase in. this Budget There are significant capital dollars to. There is also an increase in home care support to, plan major projects to consolidate existing schools.
help people stay safely in their homes through the. and build new facilities in Regina and Moose Jaw and. Connected Care strategy This Budget increases, to replace a school in Saskatoon Capital investment. funding for the First Link program to assist people. is continuing for the construction of new schools in. newly diagnosed with dementia get the help they,Rosthern and Weyburn. need as soon as possible,In this Budget substantial investments in social. The Budget includes funding to advance, services and assistance will improve services that help. preconstruction design of a new Victoria Hospital in. at risk children and provide more support for foster. Prince Albert The provincial and municipal, families people with intellectual disabilities the.
governments are working together to secure federal. Saskatchewan Assured Income for Disability SAID, funding for this project which is important to ensure. program and to those in communities who provide, quality health services for the people of Prince Albert. direct daily care for our most vulnerable,and the north. Last year the tragic Humboldt Broncos bus accident. This Budget also includes investment to plan a new. brought into sharp focus the importance of safety and. hospital in Weyburn a needed health care facility in. of volunteer first responders who serve our province. that southern Saskatchewan city,in times of need, The Jim Pattison Children s Hospital is on schedule. New personal income tax credits are being introduced. to open in Saskatoon in the fall and this Budget, for volunteer firefighters and volunteer emergency.
includes increased operational dollars for doctors. medical first responders who serve selflessly to, nurses and other health professionals to provide the. protect lives and property and respond when people. best care for Saskatchewan s children,Budget 2019 20. need them most,Just two weeks ago the Government opened the new. To improve safety at intersections the first year of. Saskatchewan Hospital North Battleford SHNB This, a multi year strategy is being funded in this Budget 7. New funding is also in place for an initiative to help next two years which aligns closely with an average. reduce the frequency and severity of collisions on of private sector forecast of 3 5 per cent GDP growth. provincial highways for the two years combined, The Budget also provides funding to improve almost With a strengthening economy Saskatchewan is.
1 000 kilometres of Saskatchewan highways experiencing job growth as well. The Budget also protects Saskatchewan people and Saskatchewan s economy added 2 400 new jobs in. communities with increased funding to combat gang 2018 and employment is expected to increase by. violence and drug impaired driving 3 500 jobs in 2019 Recent labour force statistics. are showing strong year over year growth with,The 2019 20 Budget is the right balance for. 9 000 new jobs in February of 2019 over the same,Saskatchewan investing in important services for. month in 2018,Saskatchewan people while keeping taxes low and. life affordable By 2022 it is anticipated job growth will be in the. 5 000 jobs per year range, A GROWING ECONOMY Higher average oil prices resulted in a slight. Saskatchewan s economy is growing stronger 0 9 per cent increase in drilling in 2018. Saskatchewan posted real GDP growth of In 2019 the industry faces challenges including a. 2 2 per cent in 2017 and the economy is expected to restrained ability to move oil to markets beyond the. grow by 1 0 per cent in 2018 growth upon the United States but by 2020 it is expected higher oil. relatively strong growth of the previous year prices will lead to increased production and. investment, Real GDP is expected to grow by 1 2 per cent in 2019.
and 2 4 per cent in 2020 or 3 6 per cent over the,SASKATCHEWAN GDP. Impact of Oil,90 Price Collapse,Billions of Dollars. Budget 2019 20, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023. Nominal Real,8 Sources Statistics Canada Ministry of Finance. Potash sales are forecast to have increased by that pushes water into the reservoir to increase. 13 3 per cent to 13 8 million tonnes in 2018 due production. to strong global demand The near term outlook is,Combined with competitive taxes and royalty.
positive as well with increases in sales projected for. structures targeted incentives like this continue to. 2019 and in subsequent years,support growth in Saskatchewan s economy. Crop production totaled 35 4 million tonnes in 2018. More detailed economic information is provided,an increase of 1 5 per cent over 2017 It was the. in The Saskatchewan Economy technical paper,third largest crop in Saskatchewan s history and. beginning on page 27,similar production is expected in 2019. Wholesale trade international exports and,FISCAL PICTURE.
manufacturing sales were strong in 2018 Wholesale, trade was up 4 2 per cent in 2018 over the previous Saskatchewan s 2019 20 Budget is balanced with a. year projected surplus of 34 4 million Government s. operating debt is forecast to remain unchanged in, The value of Saskatchewan s exports reached 2019 20. 31 1 billion in 2018 up 11 3 per cent from 2017, Manufacturing sales reached a record 17 9 billion A higher surplus of 49 million is projected for. in 2018 up 11 1 per cent from 2017 2020 21 72 million for 2021 22 and 84 million. in 2022 23, COMPOSITION OF SASKATCHEWAN Revenue is forecast at 15 03 billion in the. INTERNATIONAL GOODS EXPORTS IN 2018 2019 20 Budget up about 782 million or. 5 5 per cent from last year s budget and 695 million. Others 8 7, or 4 8 per cent higher than the 2018 19 third quarter.
Metal Ores, Non metallic The increase in expected revenue over last year is. Minerals 20 1, attributable to growing tax revenue higher resource. revenue and higher net income from Government,Business Enterprises. Farm Fishing,Intermediate Food, Products 42 4 Expense of 14 99 billion is projected in the. 2019 20 Budget up from the previous year by, Source Statistics Canada 382 million or 2 6 per cent and up 281 million or.
1 9 per cent from the 2018 19 third quarter forecast. Saskatchewan s economy continues to show,The 2019 20 Budget provides increased support in. resilience and Government continues to help the,almost every expense category in health social. economy through incentives like the recently,services and assistance protection of persons and. introduced Waterflood Development Program,property the K 12 and post secondary education. Budget 2019 20, The program helps companies with converted or sectors agriculture community development.
newly drilled injection wells offset the costs of environment and natural resources and. waterflooding a secondary oil recovery technique transportation. More information is available in the 2019 20 Saskatchewan people while recognizing the valuable. Financial Outlook beginning on page 37 work of emergency responders. In terms of tax competitiveness for businesses, MAKING LIFE MORE AFFORDABLE Saskatchewan has the most competitive small. The 2019 20 Budget strikes the right balance by business income threshold in the country at. strong The 2019 20 Budget strikes the right balance by keeping taxes low and carefully managing spending while providing needed support to classrooms to health care to seniors and for those children families and individuals who are most vulnerable Investment through Government s capital plan to build hospitals and long term care facilities schools safer highways and key municipal

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