The Saskatchewan Government released the 2011-12 budget on March 23, focusing on lowering taxes and paying down the provincial debt.
Weyburn-Big Muddy MLA Dustin Duncan said that the budget "outlines the Saskatchewan advantage that we enjoy."
Duncan added that while other provinces continue to have a strong debt and are decreasing government services, the Sask Party is lowering taxes for small businesses and families.
"One of our priorities was making sure people had more money in their pockets," said Duncan.
In this budget, the basic and spousal exemption amounts are increased by $1,000, and the exemption amount for dependent children rises by $500 for each dependent child.
"A family of four earning $50,000 will save nearly $2,500 in income taxes this year," said Duncan. "This same family in Saskatchewan, with these changes, will pay no provincial sales tax on the first $45,000, that's the highest threshold in the country."
Duncan's "buddy MLA" and official opposition, Regina-Coronation Park MLA Kim Trew said that this budget does not do enough for families.
"Utility costs are skyrocketing and rent and food prices are rising at an unprecedented rate," said Trew.
Duncan stated that the Ministry of Social Services announced on March 28 that it plans to spend $252 million over the next five years to increase the amount of housing and rental properties in the province.
As for provincial debt and government spending, Trew said that while public debt from the General Operating Fund is decreasing, Crown Corporation debt is escalating.
"Projections show total debt going from $8 billion in 2011 to $8.9 billion in 2012 to $9.7 billion in 2013 to $10.3 billion in 2014. How that translates into debt reduction I don't know," said Trew.
Duncan said the debt will be reduced by $325 million in this budget.
"We've paid off nearly $3 billion since our government formed three-and-a-half years ago. With this budget, debt will be down to $3.8 billion.
Overall, the budget cuts taxes by almost $200 million, while still posting a surplus of $115 million and leaving just over $710 million in the government's "rainy day account" - the Growth and Financial Security Fund.
Revenue for 2011-12 is forecasted to be $10.79 billion, up 8.5 percent from last year's budget while expense is expected to be $10.67 billion, up 5.5 percent from last year.
On a summary basis, that is, when all government operations are included, the budget surplus is expected to be $54.3 million.
