Premier Wall says province will run deficit

By The Canadian Press
February 1, 2016 - 2:58pm Updated: February 1, 2016 - 8:37pm

Saskatchewan Premier Brad Wall says his government is facing what he calls "serious revenue shortfalls" and will run a deficit this fiscal year and next.

Wall told the Saskatchewan Urban Municipalities Association that there isn't much room for the government to make cuts.

He said that left two choices: raise taxes or run a deficit — and the government opted for the deficit.

Wall said the books will be balanced once again at the end of next fiscal year.

The province had already moved away from a projected surplus to a $262-million deficit when it presented a budget update last fall.

The finance minister said at the time his goal was still to balance the books, but warned that falling resource revenue was going to make that a tough challenge.

The Canadian Press

©2016 The Canadian Press

 

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