Smoker, drinkers pay to help keep Saskatchewan budget in black

REGINA – Saskatchewan is raising tobacco and alcohol taxes and putting off a corporate tax cut to keep the budget in the black.

The province says it expects to take in $47.5 million more from tobacco sales and another $10 million from a markup on alcohol.

Finance Minister Ken Krawetz (KRAH’-vetz) says a promise made last October to cut the corporate income tax rate to 10 per cent from 12 per cent by 2015 will have to wait.

Krawetz says the result is a balanced budget with a thin surplus of $64.8 million.

Overall, an increase in budget spending is being held to 3.1 per cent.

Saskatchewan universities and regional colleges may not be happy because they’re getting a 2.1 per cent operating increase — well below what they had wanted.