Saskatchewan’s 2013 Provincial Budget focused on maintaining fiscal discipline while continuing investments in the Wall Government’s key priority areas: healthcare, education, infrastructure, and economic growth. Finance Minister Ken Krawetz introduced a balanced budget without any significant tax increases, one of the few balanced provincial budgets expected this year. The province is projecting balanced budgets for at least the next three years. The provincial debt is projected to remain flat at $3.8 billion in 2013-14 and to be decreased to $3.4 billion by 2017.
The Saskatchewan government has met its four year commitment to reduce the size of the provincial civil service by 15 per cent, with another 600 FTE reduction in 2013-14.
While no reductions to personal income taxes were made in the 2013 budget, indexation of Saskatchewan’s Personal Income Tax (PIT) brackets took effect on January 1st, 2012 saving tax payers in the province money on an annual basis.
To view the 2013 Saskatchewan budget papers, click here.
Budget Highlights included:
- The tobacco tax will increase 4 cents to 25 cents a cigarette, effective midnight March 21, 2013.
- Liquor mark-up will be increased by 3 per cent, effective April 1, 2013.
- No reduction to corporate taxes in 2013-14, but the government plans to still reduce the rate to 10 per cent by 2015.
- Legislation will be introduced this session to allow for the creation of pooled pension plans.
- $322 million in new highway construction to improve key trucking routes, with a total highways budget of $576 million.
- No mention of an increase to the province’s minimum wage.
- Announced the phase out of Saskatchewan’s Ethanol Fuel Tax grant program.
RCC will continue pressing the government to take action on the key priorities outlined in RCC’s “Retail’s Election Agenda” including lowering payroll costs, implementing cost effective waste diversion, and harmonizing to reduce the regulatory burden on retailers.
If you have any questions or concerns, please don’t hesitate to contact: Lanny McInnes at: [email protected] or (204) 253-1654.