Saskatchewan Chamber of Commerce in favour of the Government of Saskatchewan’s four-point affordability plan
Regina, SK –The Government of Saskatchewan’s four-point affordability plan, released on August 23, will support Saskatchewan businesses as they continue to persevere through the current COVID-19 recovery phase.
“We continue to navigate the impacts of the pandemic, such as labour market challenges, supply chain disruptions and inflation,” said Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy. “Many of our members have voiced that they are still facing significant challenges in sustaining their business – specifically with escalating costs. Therefore, we welcome the provincial government’s announcement of a four-point affordability plan.”
In particular, the SCC commends the extension of the small business tax rate reduction to 2024 to help mitigate the economic impacts that the Saskatchewan business community is experiencing.
“This will assist small businesses in saving costs during this time of inflation and supply chain disruptions,” continued Ramaswamy.
The SCC also applauds the government’s decision to retire up to $1 billion in operating debt resulting in significant savings on the cost to service the debt.
“Right now, businesses value a fiscally prudent government that pays down debt and also invests in its people and in the future of the province,” noted Ramaswamy.
While the SCC is pleased to see the removal of fitness and gym memberships and some recreational activities for those under 18 from the planned October PST expansion announced as part of the 2022-23 budget, it encourages the provincial government to consider expanding the PST exemption to other sectors and demographics.
“We look forward to further consultations and discussions with the Government of Saskatchewan on how the projected surplus can be invested to support business,” added Ramaswamy.
The Saskatchewan Chamber of Commerce is the voice of Saskatchewan business and represents the interests of over 10,000 individual businesses, industry associations, and local chambers across the province through its chamber network. For more information on SCC activities and advocacy efforts, visit saskchamber.com or @SaskChamber on Facebook, Twitter, Instagram, and LinkedIn.
Director of Marketing & Communications
Saskatchewan Chamber of Commerce