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.