Falling oil prices have led to some belt tightening for the Provincial Government, as it faces a significant drop in revenues.
Premier Brad Wall says they will work hard to protect the economy and maintain a balanced budget, but that means some tough decisions will have to be made.
"Fiscal responsibility that those balance budgets are the cornerstone of our growth plan, and so I think that you'll see that. I also think though you'll see us protecting growth investment, infrastructure investment, because even as we seek to make some tough decisions on the operating side of government, we need to continue to build."
Wall adds despite these measures, they are still planning to make key investments in infrastructure.
"We also have other strong sectors of the economy that are attracting more people to the province, so we need to continue to build. We'll use innovative ways to do it, we'll absolutely use, in a transparent way, P3's if we need to. We need to continue to invest in infrastructure, which will make sure that we're ready for the growth that's going to continue and likely pick up whenever oil returns to its price."
The government is imposing a freeze on spending and discretionary hiring as some of the cost-cutting measures.
Source: SwiftCurrentOnline Cory Knutt
- Previous UPDATE 2-Crescent Point boosts spending as profit surges
- Next Daily Drilling Licenses Issued