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2011-2012 Saskatchewan Provincial Budget

2011-2012 Saskatchewan Provincial Budget

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Published by Ishmael N. Daro
2011-2012 Saskatchewan Provincial Budget
2011-2012 Saskatchewan Provincial Budget

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Published by: Ishmael N. Daro on Mar 30, 2011
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SaSkatchewan Provincial Budget
The Honourable Ken KrawetzDeputy PremierMinister of Finance
the SaSkatchewan advantage
B u d g e t S u M M a r Y
Today, it gives me great pleasure to table the 2011-12 Budget and supporting documents for public reviewand discussion.Saskatchewan is blessed with many advantages as we open the 2011-12 fiscal year. We are expected to lead thecountry in economic growth, our population continues to grow and our employment picture remains bright.Both the national economy and global markets for our commodities are making real strides in recovering fromthe downturn of a year ago, both of which spell greater prosperity for our citizens in the months ahead.In that regard, we are a different place from most other provinces in Canada. Where many others will bringdown deficit budgets this year, we are delivering another balanced budget.Where other provinces will struggle to maintain public programs, we will enhance health, education and socialservices supports.And while other jurisdictions will see total debt loads go up as a result of financial pressures, Saskatchewan’sdebt will fall, and with it the cost of financing debt.This is more than just an accounting concept. It means more money available to meet the needs of Saskatchewanpeople, whether that’s building hospitals and schools or investing in improved educational outcomes for ourleast advantaged citizens.Saskatchewan is blessed with so many advantages – our abundant natural resources, our beautiful pristineenvironment, our sense of community, our unique prairie lifestyle, and our greatest advantage of all –Saskatchewan people. All of this together adds up to the Saskatchewan Advantage.This Budget is about building on that advantage to create a better quality of life and more opportunity forall citizens of Saskatchewan.We are making life more affordable for individuals and families by leaving them with more money in theirpossession through lower income taxes. We have raised the personal exemption, the spousal exemption, and theexemption for dependent children.Everyone in Saskatchewan who is currently paying income tax will see their tax burden reduced. Whencombined with other tax measures we have introduced since 2007, a family of four with an income of $50,000will realize a savings of $2,447 a year. An estimated 114,000 Saskatchewan residents will see their provincialincome tax bill reduced to zero in 2011.When you combine this year’s tax reductions with the low income tax credit introduced by our government in2008, a family of four in Saskatchewan will pay no tax on their first $45,550 of combined income. That’s thehighest income threshold in Canada. In other words, that family can now earn more tax-free income here thanany place else in Canada.

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