Saskatchewan Premier Scott Moe calls federal budget the best in a decade

Saskatchewan Premier Scott Moe praised Prime Minister Mark Carney’s latest federal budget, calling it one of the best in recent years. Speaking Friday at a Saskatoon panel on the province’s economic future, Moe said he was optimistic about several promises he believes will benefit businesses and communities. He called it probably the best budget in a decade, “but that isn’t saying much,” and said Canada has likely had “the strongest prime minister” in the past decade or two. Moe added that he was not campaigning for the Liberal Party, but appreciated good, non-partisan work.

Moe has said publicly that he has a more collaborative relationship with Carney than he had with former prime minister Justin Trudeau, with whom he often clashed over policies such as the federal carbon tax. Moe pointed to a new exemption of up to $15 million in capital gains from eligible investments in Canadian companies. He called Ottawa’s 10-year plan to end homelessness a “bold commitment” and said he intends to work with the federal government on it.

Saskatchewan Finance Minister Jim Reiter said the province will work with the federal government on the newly announced productivity mega-deduction, which lets companies write off certain capital expenses upfront. Reiter expects the measure to cost the provincial treasury about $400 million a year, but said it will be worthwhile. “We’re happy to participate. We think it’s going to be a big incentive for business,” he told reporters after the panel.

Moe said he had hoped the budget would provide more infrastructure funding, particularly for municipalities. He plans to keep working with Ottawa on shared funding commitments. Moe said he had met with several federal ministers to discuss a long-term infrastructure funding program that could be split one-third each among the federal, provincial and municipal governments. “We don’t have that yet,” he said.

The budget addressed another major Saskatchewan request: giving helium the same tax treatment as oil and gas. The province’s energy and resources minister said helium companies are looking to build Saskatchewan’s first liquefiers in the Swift Current area, potentially within two years.

Pam Schwann, president of the Saskatchewan Mining Association, said the budget is good news for mineral exploration and production. A five-year extension of the Mineral Exploration Tax Credit and the Critical Minerals Exploration Tax Credit gives junior exploration companies more long-term security as they seek financing. Schwann said the budget also reaffirms Canada’s support for the province’s mineral industry, particularly as it advances its nuclear strategy. She said that is exciting for Saskatchewan, from upstream exploration and production to supplier opportunities and, ultimately, support for nuclear reactor development for the province’s own power needs.

Schwann said the budget lacked other commitments the association wanted, including investment in trade-enabling infrastructure, reforms to the Impact Assessment Act to reduce red tape around project approvals, and federal designation of zinc as a critical mineral. She said that designation would significantly help Saskatchewan’s McIlvenna Bay project, which produces copper and zinc and was listed by the federal government as a project of national importance last year. Schwann said the association had sought a narrower federal focus on critical minerals and was disappointed not to see it, both for Saskatchewan production and for zinc refining elsewhere in Canada.