Regina, April 10, 2018:
With a sharply lower deficit this year and a balanced budget on the horizon next year the Association of Saskatchewan REALTORS® welcomed the provincial government’s 2018-19 budget.
CEO Bill Madder also welcomed new incentives for investment in high tech and agricultural processing.
“Growth must be our top priority; everything else depends on a strong economy. We support the commitment to sound finances and taxation because they are essential to encourage investment and new jobs.”
Mr. Madder said he hopes the government will continue the strategy begun last year, of shifting taxes to favour growth. “We strongly encourage the government to continue further reduction in income taxes.”
Growth will help the Saskatchewan housing market, which is suffering in part because of changes the federal government made to mortgage rules, and because of hold-ups in new capacity to export our resources and farm products.
Mr. Madder said good public policy should target four basic principles in provincial budgets:
- Balanced budget, with borrowing only for capital, not operating spending
- Focus on stimulating growth, not on subsidy
- Using broad-based taxes with the lowest-possible tax rates
- Target any tax increases to consumption, and keep taxes on income down