Saskatchewan’s 2023-24 budget has been released, enacting measures to bring the provincial government’s fiscal house into order. However, the spending plan does not provide ample cost relief for the province’s restaurants.
The budget, announced by Finance Minister Donna Harpauer, is set to achieve balanced operations by the 2024-25 fiscal year. This entails significant cost-cutting measures and revenue-generating strategies which will be implemented over the next two years.
The plan is projected to reduce the provincial debt by $2 billion by 2024-25, and save $800 million annually through cost-cutting initiatives. These include a 3% reduction in the size of the provincial public service, a $3.3-billion decrease in operational spending, and an $800-million decrease in capital spending.
The plan also includes several revenue-generating strategies. This includes the introduction of a 1.5% provincial sales tax, a new payroll tax, and a new electricity rate, as well as increases to the provincial corporate income tax rate and personal income tax rate.
While the budget includes provisions to support the province’s restaurant industry, such as an expansion of the Saskatchewan Liquor and Gaming Authority’s (SLGA) online sales platform, these measures are not expected to provide significant cost relief to the sector. In addition, the budget does not include any measures to reduce the cost of labour or food.
Overall, Saskatchewan’s 2023-24 budget aims to restore the provincial government’s fiscal house, but does not offer any extensive cost relief for the province’s restaurants.
Related posts:
Utah gets official new flag after Governor Cox signs bill, executive order
House fast tracks food relief bill | Alaska News
Governments Of Canada And Saskatchewan Partner To Invest $485 Million In Saskatchewan Under The New Five-Year Sustainable Canadian Agricultural Partnership
Noem inks bill banning six foreign governments from contracting with SD
Noem signs bill prohibiting state and local governments from doing business with six “evil” nations
Health hazard order closes Winnipeg’s Windsor Hotel, forcing out 20 residents
Health hazard order shutters Windsor Hotel – Winnipeg Free Press
Ottawa to give $1.4-billion to provinces, territories to pay for drugs for rare diseases
Supreme Court skeptical about argument Ottawa is undermining provinces on regulation of natural resources
Senator Markey Celebrates Additional $20 Million in Federal Relief to Help Massachusetts Households Cover Energy Costs
Texas Rent Relief program closes application portal 12 days early due to overwhelming demand
11 New York City Restaurants to Visit This Spring
DineSafe: Toronto health inspectors find major infractions at five restaurants on March 17
Health inspectors hit three restaurants with double-digit infractions
Missouri Legislature latest to join tax relief bandwagon
DineSafe: Toronto health inspectors find major infractions at seven restaurants on March 20
Mitsubishi Heavy Industries Power IDS Receives Order For Ren…
Massachusetts House leadership gets huge payoffs with their inflated titles
Discounts And Offers On Nissan Cars In March 2023: Magnite And Kicks
F1 2023: Will Aston Martin capitalise on Red Bull’s cost-cap penalty and be title contenders ahead of Ferrari and Mercedes?
GMC Canyon Discount Offers Low-Interest Financing In March 2023 – GM Authority
