Deficit will be higher than expected: Saskatchewan finance minister
REGINA – Saskatchewan Finance Minister Kevin Doherty says the province’s deficit is going to be higher than projected in the budget.
Doherty is expected to release a mid-year budget update by the end of November and he’s warning about significant pressures on the finances.
He says corporate and personal income tax revenue appears to be down, crop insurance claims are expected to be up, more people are using social services and there’s an added cost because incarcerations have increased.
The 2016-2017 budget projected a $434-million deficit.
The finance minister says he has not yet seen the final numbers, so he won’t estimate how much higher the deficit might be now.
Doherty notes that the fiscal year does not end until March, so he says the province has some work to do to get back to being closer to the $434-million figure.
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