As the voice of business in Saskatchewan, the SCC submitted a series of recommendations to the federal government for the upcoming Budget 2024-25. Focused on strengthening the business environment, the SCC highlighted six areas for prioritization in the next federal budget:

Carbon Tax Relief

Foremost among the SCC’s recommendations was the urgent need for relief regarding the carbon tax. Recognizing Saskatchewan’s economy is undergoing a transitional phase towards diversification and sustainability, the SCC emphasized the importance of alleviating the financial burden associated with carbon taxation.

Prompt Return of the Promised Carbon Tax Fuel Charge Proceeds

The SCC once again underscored the necessity of promptly returning of carbon tax fuel charge proceeds to Saskatchewan businesses (an estimated $300m is owed to Saskatchewan entities). Despite significant concerns regarding the guidelines set forth by the Government of Canada for the Fuel Charge Proceeds Return Program, the SCC is seeking the immediate return of these funds to benefit businesses in the province.

Increase in the Small Business Deduction

The SCC recommended increasing the Small Business Deduction (SBD) limit from $500,000 to $750,000 and introducing annual indexing. The SCC believes better aligning the deduction with evolving economic realities will stimulate growth and scalability for businesses.

Investments in Trade-Related Infrastructure

Prioritizing investments in trade-related infrastructure was another critical recommendation from the SCC. Recognizing Saskatchewan’s reliance on exports, the SCC stressed the importance of accessible infrastructure for facilitating the movement of goods and fostering long-term economic growth.

Global Leadership in Critical Minerals

The SCC highlighted the opportunity for Canada to lead in global food and energy security, emphasizing the importance of prioritizing and facilitating the growth of critical mineral sectors such as uranium and potash.

Regulatory Efficiency and Cost Control

Finally, the SCC underscored the need for regulatory efficiency and consistency to foster a competitive investment climate, advocating for a transparent, timely, and predictable regulatory environment. The Chamber also urged the federal government to exercise control over operational spending and explore opportunities to reduce the size of government.

Our complete submission to the 2024 Federal Pre-Budget Consultation can be read below.

Read the full submission