Saskatchewan Deficit at $304 Million

Posted on Friday 9 December 2011

The Provincial Auditor’s Office has announced that Saskatchewan is facing a $304 Million deficit – its third straight, not the small $25 Million surplus the Sask Party has announced.  This is looking at Saskatchewan’s “summary financial statement”, the same way all the other provinces, and the feds, do their accounting.  So other provinces could be in “surplus” too if they used Sask Party accounting.

The Provincial Auditor states the province is adding another $189 million to its “total debt”.  Saskatchewan owes more than the year before and lost money over this past year, while Potash Corp posts profits in the billions.  No different than the way the NDP used to budget, but when the Sask Party ran 4 years ago on an agenda of change, all they really have “changed” is they spend more than the NDP.  After 3 straight deficits, and increasing public debt while they were at it, the only year the Sask Party ran a surplus, granted a big one, was the first year they inherited fiscal restraint from the NDP.

The Sask Party is lucky the NDP ran a prickly Lingenfelter.  Throw in a young, honest NDP leader, with a business or accounting background, and the Sask Party will have to start turning surpluses the real way, like the other provinces in Canada do.


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