Warren Kaeding MLA January 2018 Report from the Legislature

Jan 31, 2018

The start of a new year is a time of optimism and renewal.

Saskatchewan's population has now grown to more than 1,168,000.

  • 4,132 people in the past quarter,
  • 14,467 in the past year and
  • 160,781 in the past decade.

This is the most growth our province has seen in any 10-year period since the 1920s.

For the past 10 years, our government has been focused on a vision for a strong and diverse Saskatchewan economy that can be a national leader. Our growth plan includes competitive taxes and regulations, innovation, infrastructure and engagement with markets around the world.

RBC is now predicting that our province will lead Canada in economic growth over the next two years. Recovering energy, potash, ag investment and key contracts in China and India are among the reasons for this growth.

Through trade missions and engagement, we'll continue working to open up markets for Saskatchewan products to help build on a strong, diversified and growing economy.

We are encouraged by new statistics that show Saskatchewan exporters are leading the nation. Our wholesale trade grew 21% last year, the best in Canada. And thanks to our outstanding entrepreneurs, our wholesale trade is up more than 75% over the past 10 years.

The new year brings new incentive for small businesses to hire more workers and invest new capital here in Saskatchewan. Effective January 1, the amount of income up to which small businesses pay tax at the much lower two per cent small business tax rate moved from $500,000 to $600,000.

Meanwhile, Saskatchewan's 12 per cent corporate income tax rate continues to be competitive and among the lowest in the country, further enhancing our province's significant advantages when attracting new investment and jobs.

Also in 2018, Saskatchewan residents will benefit for an entire calendar year from lower provincial Personal Income Tax rates, which dropped half a percentage point effective July 1, 2017. Saskatchewan Personal Income Tax rates will drop by another half point on July 1, 2019.