Fraser Institute releases report on lessons we can learn from Saskatchewan
Public policy think tank the Fraser Institute has released a report on lessons Newfoundland and Labrador can learn from Saskatchewan, which was facing a similar financial situation in the '90s.
The report outlines how Saskatchewan went from the "brink of insolvency to relative fiscal health in a few short years."
The province closed 52 hospitals, spending on education was cut by 19 percent, and 500 government positions were eliminated. In three years, the province had a surplus.
Saskatchewan’s spending and tax reforms do provide this province with a hopeful path out of the current fiscal situation.
In the budget this year, Newfoundland and Labrador is facing a deficit of over $1.8 billion.
The full report is available here.