Backgrounder: Budget 2009-10 Key Facts and Figures

Balanced budget in a time of global uncertainty:

• $424.5 million General Revenue Fund surplus forecast

Economic Growth:

• 2.1% real GDP growth forecast in 2009 and 2.9% in 2010
• Employment growth forecast of 11,500 new jobs in 2009

Oil Price Forecast for fiscal year 2009-10: WTI: $48.75 US$/barrel (Total revenue: $573.1 million)

Postash Price Forecast for fiscal year 2009-10: C$1,071/K2O tonne / US$556/KCI tonne (Total revenue: $1.93 billion)

Growth and Financial Security Fund (GFSF):

• Forecast balance of $1.14 billion at end of 2009-10

Debt

• Government general debt at March 31, 2010 forecast to be $4.2 billion
• Projected Government general debt to GDP (which excludes Crown debt) at March 2009 is 6.3%

Revenue: $10.7 billion (↑$1.3 billion or 13.8% over Budget 2008-09) comprised of:

• $9.2 billion (86%) in own-source revenue which includes taxes, non-renewable resources, transfers from Crown Entities and other revenue
• $1.5 billion (14%) in transfers from the Government of Canada, which includes health and social transfers and other federal-provincial cost-sharing agreements

Spending: $10.2 billion (↑ $1.13 billion or 12.4% over Budget 2008-09):

A Better Life for Our Children

• $200 million over two years for a new Children's Hospital in Saskatoon
• $57.8 million for early learning and child care (ELCC), an increase of $12.6 million, for 1,000 new spaces, child care workers training, funding lifts for ELCC service providers and capital for new space development and maintenance.
• $3.6 million for enhanced school internet connectivity and distance education delivery by school divisions
• $24.9 million for the first installment of a multi-year strategy to make improvements in the child welfare system
• $18 million for the Active Families Benefit

Stronger, Safer Communities

• $167.4 million in operating grants for municipalities, an increase of $32.3 million or 24 per cent - step one of a two-year plan to base municipal operating grants on the vaule of one point of the Provincial Sales Tax; this is in addition to the $100 million infrastructure "booster shot" for municipalities announced in February
• $1.6 million to hire 30 additional police officers - consistent with the election commitment for 120 new officers over four years
• Community Based Organizations will see an increase of $27.2 million to provide a further 3% basic grant increase over and above the additional funding announced in both last year's budget and in September 2008; this funding is primarily intended to address recruitment and retention issues
• $12.3 million in library funding, including $10.1 million for grants to public libraries to enhance internet connectivity and integrate library information systems
• $35.9 million to continue addressing waitlists in the Community Living Division; the waiting list will be significantly reduced within four years

Investing in Education and Skills Training

• $23.5 million to enable universities to limit tuition increases to an average of three per cent
• $7.9 million to continue the training seat expansions announced last year for nurses, physicians, and medical diagnostics
• $23 million to attract and retain nurses and other hard-to-recruit health professionals in Saskatchewan
• $3.9 million to maintain the mid-year increase of 1,100 apprenticeship training seats and additional Apprenticeship Training Allowance support
• $6.5 million for the second year of the Graduate Retention Program, for a total investment of $18.5 million in 2009-10
• $5.9 million for an Aboriginal Workforce Development Fund to support new employment initiatives aimed at increasing First Nations and Metis workforce participation
• $2.2 million for enhancements to the student loan program, including increased loan limits and further grants for low and middle-income students

Keeping Our Economy Strong

• Capital spending commitment of $1 billion in 2009-10 ($2.5 billion over the last two years) See separate backgrounder for details
• $103 million for the biggest property tax cut in Saskatchewan history, a 14 per cent savings
• $358.2 million for road and highway work province-wide, an increase of $86.7 million from 2008-09
• $6 million to convert the current 15 per cent non-refundable Saskatchewan Research and Development (R&D) Tax Credit to be fully refundable for eligible R&D investments ($18 million in total funding)
• $108.1 million in additional funding for farm income stabilization programs, which includes an additional $102.1 million for AgriStability and $6.0 million for AgriInvest
• $25.2 million in additional funding for Crop Insurance, including $20.0 million in enhancements as a result of implementing the 2008 Program Review recommendations
• $5.3 million for the Enterprise Regions Program and $300,000 to implement Northern Enterprise Regions - targeting regional economic development
• $5.1 million for the Western Economic Partnership Agreements designed to encourage economic growth in Saskatchewan

Keeping Life Affordable

• $16.5 million for annualized enhancements to the Seniors Income Plan which increased support for low-income seniors by raising the maximum monthly benefit from $90 to $190 for single seniors and from $72.5 to $155 for each member of a two pensioner household
• $12.5 million to adjust shelter rates in the income assistance programs in response to the Task Force on Housing Affordability and index shelter allowances and supplements to 70 per cent of average market rate