Finance Minister Jim Reiter receives B+ on Finance Minister Report Card

The Canadian Taxpayers Federation released its Finance Minister Report Card today, ranking provincial finance ministers on spending, debt and tax relief in the latest provincial budgets.

Saskatchewan Finance Minister Jim Reiter received an overall grade of B+, the highest in the country.

“Reiter is doing well compared to other provincial finance ministers, but he still has a lot of work to do for taxpayers,” said Gage Haubrich, CTF Prairie Director. “It’s great to see Saskatchewan trim taxes, but it also needs to stop racking up debt and wasting hundreds of millions of dollars on debt interest payments.”

Reiter received the following grades in each category:

Debt: C

• The government is increasing the provincial debt by about $2.4 billion this year compared to last year’s budget. By the end of the year, the debt per person will be $18,753, the third lowest in the country.

Debt interest payments: B

• Interest payments on the debt will cost taxpayers $878.4 million this year, working out to about $705 per person. That’s second lowest in the country.

Spending Increase: B+

• The government is spending about 4.5 per cent more this year compared to last year’s budget. That’s the lowest increase in the country.

Tax Relief: B+

• The government cut Education Property Tax rates in the budget, saving taxpayers about $100 million. The government also recently permanently cut the small business tax rate in half and brought in an income tax cut that will save a family of four about $2,100 over four years.

“The tax relief really helps families and businesses and that makes Saskatchewan more competitive,” Haubrich said. “But it’s unsustainable and irresponsible to keep increasing spending and debt when the province is already wasting more than $2.4 million per day on debt interest payments.”

Overall ranking of provincial finance ministers: