The Canadian Federation of Independent Business (CFIB) is pleased the 2019 Saskatchewan Budget is balanced by keeping spending to sustainable levels and not increasing taxes.

The 2019-20 Budget is balanced, with a projected surplus of $34.4 million. Higher surpluses of $49 million, $72 million and $84 million are projected for the following three fiscal years.

“Overall, this budget sends the right signals to Saskatchewan entrepreneurs,” said Marilyn Braun-Pollon, CFIB’s Vice-President, Prairie & Agri-business. “Small business owners were looking for three things in today’s budget: a balanced budget, with sustainable spending, without hiking taxes.”

 All provincial tax rates, including provincial sales tax, income tax and property tax remain the same.  “Given the significant cost increases Saskatchewan small business owners are already facing with CPP premium increases, the federal government’s tax changes, as well as the federally-imposed carbon tax, our province’s job creators will be relieved that the budget contained no new taxes or tax increases," noted Braun-Pollon.

“We can’t forget how we got back to balance, which included over $908 million in tax hikes in the 2017 provincial budget. We know the 2017 budget impacted business confidence. That’s why small business owners will be looking for much-needed tax relief in future budgets as the province’s finances improve.”

The 2019 budget provides more than $251 million in municipal revenue sharing to Saskatchewan municipalities. “We are pleased the Budget maintains the consistent source of provincial revenue for Saskatchewan municipalities who will now see the formula based on three-quarters of one point of the provincial sales tax (PST) revenue collected from the fiscal year two years prior to the current year,” noted Braun-Pollon. “We will continue to push municipalities to use this funding increase prudently to avoid annual property tax hikes.”

“Overall, business owners will like the direction of this Budget,” concluded Braun-Pollon. “As the province’s finances improve in the coming years, the government will need to provide much-needed tax relief.”