MEDIA RELEASE: Saskatchewan Chamber Responds Positively to Provincial BudgetApril 6, 2021
Regina, SK – The Government of Saskatchewan’s 2021-22 budget, which was released today, contains several important new items for Saskatchewan businesses. The overall theme of this year’s budget is a continued focus on battling the pandemic while supporting Saskatchewan people and businesses. The pandemic has triggered soaring healthcare costs, which are forecasted to be $6.54 billion.
“While the pandemic has impacted every household and business differently, we will collectively recover by focusing on health and safety protocols, and by vaccinating our residents as soon as possible. Once the pandemic is less of a concern, we expect the province to renew and increase its focus on the transition to economic recovery and building resilience into all we do in Saskatchewan,” said Saskatchewan Chamber of Commerce CEO, Steve McLellan.
The budget also contains important elements crucial to Saskatchewan businesses including continued financial supports for members of the business community negatively impacted by COVID-19.
“The past year has been extremely difficult for all Saskatchewan businesses. All were impacted and the stress on the owners, customers, and supply chains meant everyone was forced to work harder,” continued McLellan. “We don’t know when the situation will return to any type of normalcy, so a continued focus on financially supporting those businesses who need help sustaining themselves in a situation beyond their control is very welcome news.”
Some of the other key elements in the budget that will have impacts on Saskatchewan business are:
- $3.1 billion of Capital Investments in 2021-22, including $530,000 in new spending for shortline rail lines to enhance access to markets and a commitment of $18.9 million to continue to move forward the Lake Diefenbaker irrigation project, which is projected to increase our provincial GDP by $35-$83 billion over the next 50 years.
- An investment of $3.2 million to improve the cyber security of Saskatchewan’s public service systems.
“The businesses of this province are very aware of the impact the last year and this one has had on the financial health of Saskatchewan. Moving forward, it is only through continuing to support business growth and building a competitive environment that the Province can return to its pre-pandemic fiscal position,” concluded McLellan.
The Saskatchewan Chamber of Commerce is the Voice of Saskatchewan Business and represents the interests of over 10,000 individual businesses, industry associations, and local chambers across the province through its chamber network. For more information on Chamber activities and advocacy efforts, visit saskchamber.com or @SaskChamber on Facebook, Twitter, Instagram, and LinkedIn.
CEO, Saskatchewan Chamber of Commerce