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         Thursday, May 26, 2016

Building for the future is a vision, a plan, the Government has for Saskatchewan. Building for the future is about building momentum – for growth and opportunity – and building
programs and support for Saskatchewan people.

Budget 2003-04 is the Government’s 10th consecutive balanced budget. It continues the tradition of strategically investing to meet the needs of Saskatchewan people while at the same time managing the Province’s finances in a responsible, prudent manner.

Healthy and Self-Reliant Families

  • A record $2.5 billion for health
  • $19 million in funding for medical equipment
  • $27 million in health capital funding, increasing to $34 million for 2004-05
  • $74 million to support collective agreements for 30,000 health professionals
  • $4.4 million to recruit and retain physicians and specialists
  • 1,200 students enrolled in a four-year nursing program

Opportunities for Youth

  • A record $1.2 billion for education
  • $76 million in capital improvements for schools and post-secondary institutions
  • 80,000 post-secondary and training opportunities, including 30,000 spots for university students
  • 5,400 training opportunities in the skilled trades fields
  • $66 million in student loans for 17,000 students, with one-half of this amount as bursaries or grants

Modern and Competitive Infrastructure

  • An investment of $296.2 million to fix the roads, and build better highways
  • Accelerating twinning on Highway 1 west, Highway 1 east, and Highway 16 west; resurfacing more than 385 km of provincial highways; upgrading 245 km of Thin Membrane Surface highways; and investing more than $31 million to preserve, operate and maintain northern highways, bridges and airports
  • A $10 million increase in revenue-sharing grants for municipalities, for the second year in a row – and a commitment for another $10 million increase next year

A Prosperous and Competitive Economy

  • No tax increases – no increase in the Provincial Sales Tax, no increase in Personal Income Tax and no health care premiums
  • Full indexation of the Personal Income Tax system to inflation as of January 1, 2004 – meaning the amount of tax payable on a fixed amount of income will decline every year
  • A corporate tax reduction for Saskatchewan-based businesses, including a reduction in the small business Corporation Income Tax rate from 6.0 per cent to 5.5 per cent January 1, 2004, and a further reduction to 5.0 per cent in 2005
  • An increase in the Corporation Capital Tax exemption for Saskatchewan-based corporations – from $15 million to $20 million over the next two years
  • An investment of $145 million for Research and Development expenditures and tax credits

Strong and Vibrant Communities

  • $1 billion over five years to support farmers
  • $240 million annually in tax exemptions and rebates for farmers
  • $29 million in improvements through the Centenary Fund – almost $10 million is going towards municipal infrastructure projects, as well as highways, rural roads and environmental clean-up projects; nearly $10 million will go towards new and improved K-12 and post-secondary educational infrastructure; over $9 million will go towards affordable housing, heritage initiatives and parks
  • $650 million in Crown corporation investments, for upgrading and expanding their services
  • $2 million to create over 950 additional employment support opportunities to assist Social Assistance Program clients with disabilities to develop and sustain employment
Government Is Building for the Future

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