Sask. finance minister reports $600 million revenue shortfall

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The province budgeted for the price of oil at $45 per barrel, which Doherty said “seems to be holding.”

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But potash and uranium hasn’t been as lucky. Their prices have softened and there have been layoffs in the potash mines in Saskatchewan. 

Doherty said money from the federal government will help offset some of the losses from the resource sector.

“Those are one-time revenues so we cannot build those into our base for ensuing fiscal years,” he said.

Doherty maintained taxes will not be raised this year. Instead, he said the provincial government cut spending.

“We’re not going to be doing anything on the revenue side during the course of this fiscal year. We campaigned on that during the most recent election just six months ago.”

 “We’re certainly not taking anything off the table for 2017-18.”

More will come out in the mid-year report, which is scheduled to be released later this month.

BRACING FOR IMPACT

The Saskatchewan School Boards Association (SSBA) said the news is not “unexpected” and that it would not be surprised to see cuts to education in the province.

“We at School Boards understand the fiscal position that the province is in and we’ve been working very hard to find efficiencies within our operations for the past few years already,” said SSBA president Shawn Davidson.

“The sooner we know where their position is at, the sooner the school boards will be able to adapt to whatever reality we’re dealt.” 

Email lgolosky@rawlco.com

Twitter @laurengolosky