FROM OUR FAMILY TO YOURS, HAPPY NEW YEAR!
The last twelve months will be remembered for years to come. Saskatchewan found a way to stand fast when faced with post-pandemic challenges. A positive business climate and increased private investment have laid the groundwork for a spectacular 2023.
Saskatchewan's population has surpassed 1.2 million for the first time in history. We have the second lowest unemployment rate in the country, with a new overall employment record of 574,300 people employed. Our real Gross Domestic Product is forecast to increase by 1.9 per cent in 2023, the highest growth among the provinces. Our government can invest in programs and services thanks to the expanding economy, and we are on track to balance the budget, with a $1.1 billion surplus at mid-year.
Increased revenue has allowed our government to support those facing financial pressure due to inflation and the federal carbon tax. The Four Point Affordability Plan delivered a one-time Saskatchewan Affordability Tax Credit cheque, changes to PST on fitness memberships and other youth recreational activities, and we extended the small business tax rate reduction. We increased the maximum monthly benefit through the Seniors Income Plan by $30 per month, with a second $30 increase for 2023/24. These measures, along with some of the country's lowest utility costs and income tax levels, have helped Saskatchewan residents with inflation.
In the fall, we launched the Health Human Resource Action Plan to recruit, train, incentivize and retain health professionals across the province. Adding 1,000 new healthcare staff will directly support the ability to perform more surgeries. This fiscal year we set an aggressive target of performing 97,000 surgeries, the highest number of surgeries ever completed in one year.
We are making Saskatchewan safer with new initiatives like the Saskatchewan Marshall Service, increased funding for the Crime Reduction Team, and the Warrant Enforcement and Suppression Team. Over $23 million in additional funding has been committed to enhancing and expanding agencies that will ensure public safety, respond to emergencies and support programs already in place.
We believe Saskatchewan is the best place to work, live and raise a family. The business climate continues to be supportive and draws new ideas to our province. This economic success allows for further investment into the things that matter to the Saskatchewan people. Things like healthcare, education, better roads and highways, and safer communities.
As we look back on the last year, our province has faced challenges and celebrated success. Saskatchewan will start the new year with one of the best economies in the country, allowing for even more growth in 2023. Forecasters are watching with great interest as we continue to support new opportunities, fresh investment and job growth. We are blessed to live in a bountiful province.
Along with my family, Trish, Carter, Meredith, and Paige, we wish you and yours a Happy New Year!
POPULATION - Saskatchewan's population recently surpassed 1.2 million for the first time in history. In 2007, the Official Opposition said our population would never grow beyond one million. We believed Saskatchewan had the potential with the support of a strong economy. This achievement puts us closer than ever to our Growth Plan goal of 1.4 million people by 2030.
- JOBS- Statistics Canada job numbers for November show our province added 11,800 jobs compared to last year, giving Saskatchewan the second-lowest unemployment rate in the country. Overall employment set a new record with 574,300 people employed.
- ECONOMY- Saskatchewan's real Gross Domestic Product is forecast to have grown by 5.3 per cent in 2022 and increase by 1.9 per cent in 2023, the highest growth among the provinces in both years.
- Merchandise exports increased 47.5 per cent in October 2022 compared to October 2021, the highest increase among provinces.
- Statistics Canada is reporting a 49.5 per cent jump in wholesale trade for September 2022, compared to September 2021, the highest increase among provinces.
- The province's manufacturing sales were also up, rising 24.1 per cent from September 2021 to September 2022, ranking third among provinces.
- INVESTMENTS & BALANCED BUDGET- Thanks to the growing economy, our government can invest in expanding programs and services. We are adding new healthcare professionals, expanding mental health and addictions services, and investing in new hospitals, long-term care facilities and schools. We are on track to balance the budget, with the Mid-Year Financial Report forecasting a $1.1 billion surplus. The increase is largely the result of high potash and oil prices, and higher revenues.
- AFFORDABILITY- The Four Point Affordability Plan has:
- delivered a one-time Saskatchewan Affordability Tax Credit cheque of $500 to all adult residents who have filed a 2021 tax return in the province,
- exempted the PST on fitness and gym memberships, along with other recreational youth activities,
- and extended the small business tax rate reduction.
We increased the maximum monthly benefit through the Senior’s Income Plan by $30 per month, with a second $30 increase for 2023/24. These measures, along with some of the lowest utility costs and income tax levels in the country, have helped Saskatchewan residents with inflation.
- SASKATCHEWAN FIRST ACT- Due to interference from the federal government, we introduced the Saskatchewan First Act that clearly defines that Saskatchewan has the constitutional rights over natural resources and economic future. Supported at Second Reading by the opposition NDP, this legislation ensure Saskatchewan continues down a path of growth.
- HEALTH CARE- We recognize the pressure a growing population puts on the healthcare system. Our Health Human Resource Action Plan has already seen success as we work to recruit, train, incentivize and retain health professionals across the province. On a recent recruitment mission to Manila, Philippines, nearly 130 conditional offers were made. More frontline staff will directly support our ability to perform more surgeries. This fiscal year we have set an aggressive target of performing 97,000 surgeries, the highest number of surgeries ever completed in one year.
- SAFETY- We are making Saskatchewan safer with several new initiatives like the Saskatchewan Marshall Service, increased funding for the Crime Reduction Team along with the Warrant Enforcement and Suppression Team. When fully operational, 70 officers will make up the Saskatchewan Marshall Service, providing an additional layer of law enforcement. Over $23 million in additional funding has been committed to enhancing and expanding agencies that will ensure public safety, respond to emergencies and support programs already in place.
- NEW YEAR- We are ending 2022 with one of the strongest economies in the country, with several major private investments coming to fruition in the new year. These new businesses are poised to create thousands of jobs, inject further revenue into the province, and support government investment in programs and services residents need. That's growth that works for everyone.
