FOR IMMEDIATE RELEASE – March 20, 2024

REGINA, SK – The Saskatchewan Chamber of Commerce is pleased by the Government of Saskatchewan’s 2024-25 budget which seeks to bolster Saskatchewan’s economy. The Chamber has consistently urged the Government of Saskatchewan to adopt policies that would:

• foster a competitive taxation environment to stimulate investment,
• promote policies that support sustainable economic expansion,
• allocate government spending to critical areas such as healthcare and infrastructure; and
• implement measures to streamline government size and expenditures, ensuring efficiency.

The Government of Saskatchewan’s 2024-25 budget introduces key initiatives and provides funding that aligns with the priorities of our members. We are particularly pleased to have the Government respond to our advocacy efforts in support of maintaining the small business tax rate at 1%. In addition, the Chamber is encouraged to see the following initiatives announced:

• The various new, extended, and expanded incentives across critical minerals, energy, innovation, and technology will serve as a catalyst for investment by leveraging Saskatchewan’s natural advantages.
• The Saskatchewan Labour Market Strategy that outlines how Saskatchewan people will benefit from a growing economy and will help ensure Saskatchewan’s job-creators have access to the workforce needed to grow.
• The improvement of over 1,100 km of highways and investment in strategic transportation routes will continue to support our province’s export-driven economy.
• The allocation of funds towards enhancing Saskatchewan businesses’ capacity to expand and connect with international markets.

The Chamber also welcomes new government spending on today’s most pressing issues with increased investments in healthcare and infrastructure, along with an enhanced focus on natural resources, as these issues were identified as priorities by our members.

While no new taxes or tax increases were announced, the Chamber would further encourage the government to seriously consider a reduction of the PST in the future.

The Chamber is optimistic that these measures will create a robust foundation for enhanced business investment, entrepreneurship, and job creation across the province. “This budget not only acknowledges the vital role of Saskatchewan’s business community in driving economic growth but also lays down practical steps to support it,” said Prabha Ramaswamy, CEO of the Saskatchewan Chamber of Commerce. “We are particularly pleased to see a focus on competitiveness, attracting investment, and prioritization of spending on what matters most to our business community.”

As Saskatchewan prepares for the upcoming election, the Chamber remains committed to working alongside the government to ensure the continued prosperity of our province’s economy and the well-being of its people.

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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.

FOR MORE INFORMATION:

Josie Fries

Director of Marketing and Events

E: jfries@saskchamber.com    |    P: 306-781-3125