The provincial auditor is reporting an $800 million debt pay-down -- which is fabulous news for taxpayers. Problem is, Saskatchewan's finances are a house of cards. Since Lorne Calvert took over in 2001 provincial spending has increased by 26 per cent.
The bottom line is if we didn't get a $700 million one-time handout from the feds and experience a $333 million increase in oil revenue, we'd be staring square in the eye of a $244 million deficit.
While oil prices are forecast to remain strong, we know for sure that $700 million aint coming coming back.
Thursday, September 08, 2005
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