So it was just announced that the Sask Party, which initially projected potash revenues to be $1.9 billion will actually only bring $109 million to provincial coffers (a whopping 95% LESS than they projected! )
Now, whether your political colour is orange or green, blue or red, purple
or pink, if you put aside the partisanship from either side of the political spectrum for a sec and just look
at those numbers in isolation, it has to be pretty obvious that
something is massively wrong for a projection to be out by that much. (To put it in real-life terms, it'd be like a buddy promising he'll pay you ten bucks as soon as he gets paid then saying he didn't get as much as he thought but hey, here's fifty cents.)
So anyhow, after some jiggery-pokery to raid the province's rainy day fund, use proceeds from the sale of government assets and cancel some spending (including money for new long-term care facilities – ouch!), the Sask Party government has created a billion dollar deficit only a couple years after taking power and having been left with one of the largest surpluses in the province's history by the outgoing NDP government.
For me, this is pretty sad but not unexpected. Does anybody else see the irony in the fact that “conservative” governments tend to be anything but?
“The lesson we've learned from this experience is we have to be more
cautious and more prudent than we've been in the past,” [Finance Minister Rod] Gantefoer said.
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