FOR IMMEDIATE RELEASE – November 26, 2024

REGINA, SK – The Saskatchewan Chamber of Commerce (the Chamber) is pleased that several important economic issues impacting Saskatchewan businesses have been outlined in the 2024 Speech from the Throne.

“We are very encouraged to see that the Government of Saskatchewan has addressed priorities that are important to businesses across the province, such as the need for tax relief and tax incentives to spur economic growth,” said Prabha Ramaswamy, CEO of the Saskatchewan Chamber of Commerce.

“Businesses across the province are eager for government actions that encourage growth, foster innovation, and strengthen our workforce,” said Ramaswamy. “In particular, our organization looks forward to working with the government and our partner Chambers of Commerce across the province to facilitate a young entrepreneur bursary that will support start-ups and local businesses.”

Key Priorities Addressed in the Speech

Economic Growth and Investment
Policies that stimulate economic activity and attract investment are vital to Saskatchewan’s future. The Chamber is encouraged by the government’s plan to introduce a new investment tax incentive to stimulate private investment. This initiative will position the province as a competitive destination for both domestic and international investment. Supporting local businesses and attracting new opportunities helps to sustain economic growth.

Tax Policy and Business Competitiveness
Effective tax policy is essential to enabling Saskatchewan businesses to grow and compete on a global scale. Today, the Government of Saskatchewan committed to maintaining the small business tax at 1%, an action the Saskatchewan Chamber of Commerce has been advocating for over the past few years. This will be an important step toward reducing financial pressures on businesses and fostering an environment for innovation and job creation.

Labour Market and Workforce Development
Labour shortages remain a significant challenge for businesses across Saskatchewan. Initiatives announced today, such as a 20% increase to the Graduate Retention Plan benefit and a new $5,000 Class 1 Truck Driver Training rebate, are important steps toward building a skilled and resilient workforce to meet the demands of a growing economy. Additionally, the introduction of a young entrepreneur bursary, administered by the Saskatchewan Chamber of Commerce, will foster entrepreneurship and innovation, supporting the next generation of local business leaders.

Government initiatives announced in the Throne Speech focusing on education, health care, and community safety are also welcomed by the Chamber, as they contribute to making Saskatchewan an attractive place for individuals and organizations to live, work, and do business.

“Today’s announcements provide an opportunity to invest in and strengthen our province’s economy. We look forward to collaborating with the government to advance many of the goals identified in the Throne Speech,” said Ramaswamy.

ABOUT SASKATCHEWAN CHAMBER OF COMMERCE:

The Saskatchewan Chamber of Commerce is a leading advocate for business in the province, committed to driving economic growth and championing a thriving business community. As the ‘Voice for Saskatchewan Business,’ the Chamber represents the interests of over 10,000 individual businesses, industry associations, and local chambers. More information can be found at saskchamber.com or @SaskChamber on Facebook, Twitter, Instagram, and LinkedIn.