Revenue shortfalls force deficit in Saskatchewan
Saskatchewan premier Brad Wall said the books will be balanced once again at the end of next fiscal year.
REGINA—Saskatchewan Premier Brad Wall says his government is facing what he calls “serious revenue shortfalls” and will run a deficit this fiscal year and next.
Wall told the Saskatchewan Urban Municipalities Association that there isn’t much room for the government to make cuts.
He said that left two choices: raise taxes or run a deficit—and the government opted for the deficit.
Wall said the books will be balanced once again at the end of next fiscal year.
The province had already moved away from a projected surplus to a $262-million deficit when it presented a budget update last fall.
The finance minister said at the time his goal was still to balance the books, but warned that falling resource revenue was going to make that a tough challenge.