Sask. finance minister says deficit now at $800M
Kevin Doherty to release mid-year financial update this morning
Saskatchewan's finance minister says halfway through the fiscal year, the deficit in his budget has nearly doubled to $800 million.
That does not include a repayment to businesses from Workers' Compensation Board reserves, which will drive the overall gap to about a billion dollars, said Minister Kevin Doherty.
He will officially update the public on the state of the government's books later this morning at a mid-year financial update.
The government has already announced it has authorized more borrowing and Doherty said there will also be tough cuts to spending.
"And every time you do," Doherty said, "Somebody is impacted and you hear about it and that's not pleasant. I mean nobody likes to get into government to say 'No' — I certainly didn't — but we have to make some of these very difficult decisions."
The Opposition NDP accuses the government of downplaying the true state of its finances since the spring election.
Doherty's financial update is expected at 10:30 a.m. CST.