Sask. budget contains no tariff contingencies in face of 'erratic and unpredictable' Trump presidency
CBC
The "erratic and unpredictable" threats of tariffs from U.S. President Donald Trump have made this year's Saskatchewan budget difficult to project, according to Finance Minister Jim Reiter.
"This budget is being presented at a time of incredible uncertainty caused by the words and actions of the president of the United States on tariffs," Reiter said as he rose in the provincial legislature Wednesday to deliver his first budget as finance minister.
Reiter's budget stresses themes we've heard frequently from Premier Scott Moe: health, education and public safety.
A razor-thin surplus of $12.1 million means the 2025/26 budget, titled "Delivering for You," is projected to be balanced. But it does not factor in any fallout from American or Chinese tariffs, including a 100 per cent tariff on canola imports set to kick in Thursday.
Saskatchewan's approach is a departure from recent budgets in Alberta and B.C., which each featured dedicated contingency funds of $4 billion.
While America remains Saskatchewan's largest trading partner, with approximately $27 billion worth of exports crossing the border every year, Reiter said the fluidity of the tariff situation made it impossible to build the direct effects into this budget.
"We do not know whether the tariffs are going to last for three days, three months or three years, nor do we know at what rate these tariffs will be levied over time," the budget reads.
Instead, the province is banking on a strong financial outlook and "responsible" spending to weather the impacts of tariffs.
The province did do an analysis of the potential effect of U.S. tariffs, looking at a "worst-case scenario" of one year of America's 10 per cent tariff on Canadian energy and 25 per cent on all other Canadian exports.
It found that, under those tariffs, the value of Saskatchewan exports to the U.S. would drop by 30.4 per cent or $8.2 billion, the province's revenue would be reduced by as much as $1.4 billion and its real gross domestic product would shrink by up to $4.9 billion.
On Wednesday, Moe defended the decision to not include tariff contingencies.
"Why would you at the outset of a budget just loan money, pay interest on that money and have it sitting there in case you need it?" he asked.
Moe said the decision will give the province the financial freedom to act as necessary.
On Wednesday, Reiter touted previously announced reductions in the province's education property tax mill rates across all property classes and approximately $250 million in tax savings, mostly through modifying personal income tax exemptions.
The Regina Anti-Poverty Ministry says the 2025-26 Saskatchewan budget doesn't do enough to protect those most vulnerable in a turbulent economy threatened by looming tariffs.
Some childcare workers on P.E.I. are worried about a recent change to one of P.E.I.'s immigration programs, leaving them uncertain about their future in Canada.
A Richmond, B.C., company has apologized after an advertisement in a transit station drew online flak for its reference to the "51st state" amid public annexation threats by the U.S. president.
Marcie McIlveen never thought she'd work in a hospital.
As a bulldozer clears the rubble of a demolished home that once stood in the shadow of the Ambassador Bridge, west end Coun. Fabio Costante says there's a hopeful future ahead.
Calgary Mayor Jyoti Gondek says the province is jumping the gun in claiming the downtown segment of the Green Line LRT project will move ahead based on the new alignment.
Prime Minister Mark Carney will ask the Governor General to dissolve Parliament and call a federal election this Sunday, Radio-Canada has learned.
Durham police have identified the person killed in a blaze that tore through a historic building in Bowmanville earlier this month as 54-year-old Kelli Faris.
Some Ontario roller derby teams say they won't travel to the United States this year to compete because the current climate makes it "unsafe" for their athletes.
A Health P.E.I. employee says the provincial health authority's equity and diversity policy is inadequate and fails to protect marginalized health-care workers.
Ryan Leef, the former Yukon MP who lost his seat in Parliament a decade ago, wants to have another go at it.
It seems that the secret ingredient to help save Shenul Williams's small Pickering, Ont., condiment business was a healthy dash of Canadian patriotism.