Report from the Legislature
July 27, 2023
Saskatchewan continues to receive great news on its economy. The province’s AA (low) credit rating and stable outlook was affirmed in a recent release from DBRS Morningstar. When ratings from three major rating agencies (Moody’s, DBRS Morningstar and S&P) are considered, Saskatchewan has the second highest credit rating among all provinces.
The province’s wholesale trade for May 2023 was up 89.8 per cent from May 2022, for a total value of $7 billion. This is also an increase of 47.9 per cent above April 2023. This record wholesale trade growth is proof that Saskatchewan’s economic momentum continues.
Our province’s strong and growing economy allows our government to invest in the programs and services that matter most to Saskatchewan people. The Seniors Income Plan (SIP) benefit has increased to $360 per month fulfilling our government’s three-year commitment to better support seniors across Saskatchewan. SIP provides seniors with financial assistance to help meet their basic needs, in addition to income they receive through the Old Age Security and the Guaranteed Income Supplement. Eligible seniors automatically receive this benefit based on the filing of their most recent income tax return. This $3 million investment will support 14,500 seniors and marks the eighth increase to SIP since 2008 when the maximum benefit was just $90 per month.
Our government just announced an investment of $530,000 to provide bursaries for students and recent graduates joining Emergency Medical Services (EMS) here in Saskatchewan. You can learn more at www.saskhealthauthority.ca.
As Saskatchewan’s economy continues to grow, we celebrate the industries that create this economic growth. August 5 is Canada Food Day, an opportunity to celebrate Saskatchewan’s world-class, environmentally sustainable products that feed people all over the world. Canada Food Day highlights the farmers and ranchers who grow the products served at consumers’ dinner tables.
This year, as those agricultural producers are facing many challenges due to dry conditions, our government is supporting them in many ways. The Saskatchewan Crop Insurance Corporation (SCIC) has doubled its low yield threshold for this year to allow additional acres of low yielding crops to be diverted to feed. For more information, call 1-888-935-0000 or visit scic.ca.
Agriculture Minister David Marit requested the federal government conduct an AgriRecovery assessment to determine what assistance could be provided to livestock producers. The province also requested an early designation of the federal Livestock Tax Deferral Program to provide producers facing potential feed shortages with more options as they consider if they need to liquidate part of their herd. Our government is committed to supporting our farmers and ranchers to lessen the impact of these challenging conditions.
Our government also continues to urge the federal government to do everything within its power to facilitate a resolution to the BC port workers’ strike. We are deeply concerned about the impact on our province’s export-based industries. The efficient and reliable delivery of goods through these ports is key to maintaining Saskatchewan’s reputation as a dependable trading partner.
As summer continues, there are many opportunities to enjoy what Saskatchewan has to offer. It will soon be Saskatchewan Day on August 7. I wish everyone a safe and fun long weekend!
If you have questions, concerns or feedback, please contact my office at 306-692-8884 or mjnorthmla@sasktel.net.
The views and opinions expressed in this article are those of the author, and do not necessarily reflect the position of this publication.
