By Canadian Press

Saskatchewan gives itself $260M cushion to deal with COVID-19 uncertainty

Nov 27, 2020 | 2:01 PM

REGINA – The Saskatchewan government has inked in a $100-million cushion into its mid-year financial forecast for any pandemic-related revenue shortfalls.

The Ministry of Finance says that’s on top of $160 million remaining in a contingency fund to cover expenses tied to COVID-19.

Finance Minister Donna Harpauer says the total $260-million buffer will give the government spending room to pay for unexpected costs in the remaining months of the 2020-21 fiscal year.

The province is projecting revenue of $14.2 billion and expenses of $16.2 billion, leaving a deficit of $2 billion.

The financial hole is slightly lower than what was forecast in August before the provincial election and down about $380 million from when the spring budget was presented.

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Premier Scott Moe campaigned on a promise to eliminate the deficit by 2024-25 without raising taxes or major spending cuts.

This report by The Canadian Press was first published Nov. 27, 2020.

The Canadian Press