August 2009
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Potash Revenues Tumble, forcing Saskatchewan Government to Curb Spending to Remain in the Black
REGINA — Facing an unprecedented reversal of fortune, the Saskatchewan Party government moved to re-balance its books Friday by deferring funding for a planned children`s hospital in Saskatoon, taking more money from the Crown corporations and freezing the hiring of employees not "critical" to government operations.
Just a little over three months after releasing a big-spending budget built around potash royalties, Finance Minister Rod Gantefoer cited a "negative perfect storm" of factors as he issued a first quarter financial report showing the province will take in $1.3 billion less from potash than projected.
But the Opposition NDP blasted the government, saying it had kept a perversely sunny outlook at budget time even when the economic storm clouds were in plain sight.
"We`ve got a heck of a mess here," said NDP finance critic Trent Wotherspoon.
Read the full article here.
REGINA — Facing an unprecedented reversal of fortune, the Saskatchewan Party government moved to re-balance its books Friday by deferring funding for a planned children`s hospital in Saskatoon, taking more money from the Crown corporations and freezing the hiring of employees not "critical" to government operations.
Just a little over three months after releasing a big-spending budget built around potash royalties, Finance Minister Rod Gantefoer cited a "negative perfect storm" of factors as he issued a first quarter financial report showing the province will take in $1.3 billion less from potash than projected.
But the Opposition NDP blasted the government, saying it had kept a perversely sunny outlook at budget time even when the economic storm clouds were in plain sight.
"We`ve got a heck of a mess here," said NDP finance critic Trent Wotherspoon.
Read the full article here.