To the Editor:
The Canadian Taxpayers Federation has been traveling the province with a side show-style debt clock, spreading misleading statements about our Government’s management of Saskatchewan’s finances.
Our Government is committed to working to balance the budget, keep debt and taxes low, and carefully manage spending while investing in the priorities of Saskatchewan people. Our Government has paid down $3 billion in debt over its term and has provided almost $6 billion in overall tax relief.
Now is the right time to invest in infrastructure. Our province has triple-A credit ratings (one of three provinces in Canada) and interest rates are historically low. We have undertaken prudent borrowing for capital with a repayment plan. Saskatchewan people have been clear and consistent in their desire for investments needed in highways, schools, health care facilities and other vital infrastructure - important now and for future generations.
Similarly, our Crown corporations borrow, within industry ratios, to build the power, telecommunications and natural gas infrastructure people need in a growing province.
Our province’s total debt to GDP ratio is the second lowest in the country among the provinces. Bond rating agencies all speak to our province’s low debt burden and strong financial management.
While we face challenges, with global impacts on resource prices and disasters like forest fires this year and flooding in others, our Government has a strong track record of fiscal management when faced with volatility. We will keep working hard to manage the province’s finances and leave the side shows to others.
Kevin Doherty
Minister of Finance
