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Saskatchewan budget takes big hit, from $12M surplus to $349M deficit
Saskatchewan's forecast deficit reflects a $172 million revenue drop mainly from SaskPower and higher expenses including wildfire costs and pension updates, officials said.
- Released on August 22, 2025, the Government of Saskatchewan announced a $349 million first-quarter deficit, reversing a planned $12 million surplus, with revenues at $20.9 billion and expenses $21.2 billion for the year.
- Revenue data show a $172 million shortfall, mostly from SaskPower and lower oil prices; SaskPower net income declined by $163 million after removing the federal carbon tax from customer bills.
- The province added $80 million for wildfire response and a $115 million increase from pension accrual updates, causing expenses to rise $189 million above budget.
- Deputy Premier and Finance Minister Jim Reiter said, `While economic uncertainty is creating financial challenges both nationally and globally, Saskatchewan's financial position remains stable.` The province maintains the highest credit rating and a net debt‑to‑GDP ratio projected at 14.5 per cent by March 31, 2026.
- The Official Opposition criticized the fiscal update and the government's repeated use of special warrants, while Saskatchewan NDP finance critic Trent Wotherspoon shredded the budget document Friday.
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18 Articles
castanet.net+8 Reposted by 8 other sources
Saskatchewan budget takes big hit, from $12M surplus to $349M deficit
Saskatchewan's financial fortunes this year have taken a dramatic hit.
·Kelowna, Canada
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Coverage Details
Total News Sources18
Leaning Left9Leaning Right1Center2Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 17%
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