Saskatchewan's economy is showing signs of growth while remaining the most affordable province in Canada, according to Statistics Canada.The province's inflation rate increased by only 1.1% in August compared to last year. This inflation rate is the lowest year-over-year increase among all provinces and well below the national average of 2%."Saskatchewan has the lowest inflation rate in Canada as a direct result of our government's refusal to collect and remit the carbon tax," said Jeremy Harrison, Minister of Trade and Export Development."We will continue to provide necessary relief for Saskatchewan families, while fighting back against the Trudeau/NDP coalition government as they threaten to have the Canada Revenue Agency unconstitutionally garnish money from our province's taxpayers. Our government will always stand up for Saskatchewan people."The province's real Gross Domestic Product (GDP) reached a record high of $77.9 billion in 2023, an increase of $1.2 billion, or 1.6%, from the previous year. Saskatchewan's growth rate was the second highest in Canada and above the national average of 1.2%.Private capital investments in Saskatchewan are expected to total $14.2 billion in 2024, which is 14.4% more than in 2023. This is the highest expected increase in Canada.The construction industry is booming. Saskatchewan ranked second in the country for growth in building permits, both year over year and month over month. The value of building permits increased by 47.5% compared to last year and 49.2% compared to the previous month.Building permit values in Regina increased 64.6% compared to last year, while those in Saskatoon increased 131.4%.The government says its policies are helping to keep Saskatchewan affordable. These include low unemployment rates, low utility rates, and programs to help with income and affordable housing. The government also refused to collect the federal carbon tax on natural gas used for home heating."Saskatchewan remains the most affordable place in Canada to live, work and raise a family," said Harrison. "The actions our government has put in place to keep life affordable are working, as we are seeing unprecedented growth in key economic indicators all while keeping Saskatchewan's unemployment and rate of inflation the lowest in Canada. We will always stand up against policies that hurt our province and protect and promote the interests of Saskatchewan people.""Keeping life affordable for Saskatchewan residents plays a pivotal role in building a strong economy and vibrant communities," said Donna Harpauer, Deputy Premier and Minister of Finance. "This is why more than $2 billion in targeted affordability measures are built into each and every budget."The Saskatchewan government has introduced several programs to make home ownership more affordable. These include the Secondary Suite Incentive (SSI) and an extension to the Provincial Sales Tax (PST) Rebate for New Home Construction. Together, these programs can save homeowners up to $46,340.Saskatchewan's Crown corporations are also working to keep costs down for residents. Crown Investments Corporation Minister Dustin Duncan said Saskatchewan has one of Canada's most affordable utility bundles."Our government is proud to see Saskatchewan families benefit from the second lowest cost utility bundle among all provinces in 2023-24," said Duncan."According to the most recent forecast, Saskatchewan's utility bundle is about $2,300 more affordable than the average provincial cost of about $9,200. SGI's basic auto insurance rates remain among the lowest in the nation—a key factor contributing to Saskatchewan's overall affordable utility costs. Beyond their core operations, our Crowns look for innovative ways to help Saskatchewan families reduce their utility bills. SaskPower and SaskEnergy offer a variety of energy-efficiency rebates and programs, SGI offers the Safe Driver Recognition program, and SaskTel offers plans, packages, promotions and incentives as affordable options for Saskatchewan families to stay connected."
Saskatchewan's economy is showing signs of growth while remaining the most affordable province in Canada, according to Statistics Canada.The province's inflation rate increased by only 1.1% in August compared to last year. This inflation rate is the lowest year-over-year increase among all provinces and well below the national average of 2%."Saskatchewan has the lowest inflation rate in Canada as a direct result of our government's refusal to collect and remit the carbon tax," said Jeremy Harrison, Minister of Trade and Export Development."We will continue to provide necessary relief for Saskatchewan families, while fighting back against the Trudeau/NDP coalition government as they threaten to have the Canada Revenue Agency unconstitutionally garnish money from our province's taxpayers. Our government will always stand up for Saskatchewan people."The province's real Gross Domestic Product (GDP) reached a record high of $77.9 billion in 2023, an increase of $1.2 billion, or 1.6%, from the previous year. Saskatchewan's growth rate was the second highest in Canada and above the national average of 1.2%.Private capital investments in Saskatchewan are expected to total $14.2 billion in 2024, which is 14.4% more than in 2023. This is the highest expected increase in Canada.The construction industry is booming. Saskatchewan ranked second in the country for growth in building permits, both year over year and month over month. The value of building permits increased by 47.5% compared to last year and 49.2% compared to the previous month.Building permit values in Regina increased 64.6% compared to last year, while those in Saskatoon increased 131.4%.The government says its policies are helping to keep Saskatchewan affordable. These include low unemployment rates, low utility rates, and programs to help with income and affordable housing. The government also refused to collect the federal carbon tax on natural gas used for home heating."Saskatchewan remains the most affordable place in Canada to live, work and raise a family," said Harrison. "The actions our government has put in place to keep life affordable are working, as we are seeing unprecedented growth in key economic indicators all while keeping Saskatchewan's unemployment and rate of inflation the lowest in Canada. We will always stand up against policies that hurt our province and protect and promote the interests of Saskatchewan people.""Keeping life affordable for Saskatchewan residents plays a pivotal role in building a strong economy and vibrant communities," said Donna Harpauer, Deputy Premier and Minister of Finance. "This is why more than $2 billion in targeted affordability measures are built into each and every budget."The Saskatchewan government has introduced several programs to make home ownership more affordable. These include the Secondary Suite Incentive (SSI) and an extension to the Provincial Sales Tax (PST) Rebate for New Home Construction. Together, these programs can save homeowners up to $46,340.Saskatchewan's Crown corporations are also working to keep costs down for residents. Crown Investments Corporation Minister Dustin Duncan said Saskatchewan has one of Canada's most affordable utility bundles."Our government is proud to see Saskatchewan families benefit from the second lowest cost utility bundle among all provinces in 2023-24," said Duncan."According to the most recent forecast, Saskatchewan's utility bundle is about $2,300 more affordable than the average provincial cost of about $9,200. SGI's basic auto insurance rates remain among the lowest in the nation—a key factor contributing to Saskatchewan's overall affordable utility costs. Beyond their core operations, our Crowns look for innovative ways to help Saskatchewan families reduce their utility bills. SaskPower and SaskEnergy offer a variety of energy-efficiency rebates and programs, SGI offers the Safe Driver Recognition program, and SaskTel offers plans, packages, promotions and incentives as affordable options for Saskatchewan families to stay connected."
