Premier Scott Moe (file photo/CKOM)

By paNOW Staff

stimulus

Major stimulus plan for Sask. COVID-19 recovery

May 6, 2020 | 3:29 PM

Premier Scott Moe has unveiled a major spending program as part of plans to rebound from the huge economic hit of the COVID-19 pandemic. It will see the spending of an additional $2 billion over and above the existing capital plan for the coming two years.

In a media release issued Wednesday, the government announced a $7.5 billion, two-year capital plan to build a strong Saskatchewan and stimulate the province’s economic recovery from the impact of the pandemic.

“Over the next two years, our government will invest $7.5 billion in schools, hospitals, highways, Crown utility projects, municipal infrastructure and other important capital projects designed to build a strong Saskatchewan,” Moe said. “This is a $2 billion economic booster-shot over and above the $5.5 billion our government had already planned to invest in capital projects over the next two years and will be an important step in our province’s economic recovery.”

The $7.5 billion stimulus package will be committed over the next two years and includes the $2.7 billion Crown and executive government capital spending already accounted for in the province’s 2020-21 Estimates, and the $2.8 billion Crown and executive government capital spending projected for the 2021-22 fiscal year.

The announcement noted the $2 billion stimulus injection will balance the need for smaller, short term projects to jump-start economic activity and get people back to work quickly with longer-term, large-scale projects that leverage multiple sectors over the next several years. The capital injection includes new capital funding of more than $300 million for highways projects, $200 million for health infrastructure and $135 million for education infrastructure.

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The premier said all previously announced capital infrastructure projects, including the new Prince Albert Hospital building, will go ahead.

He said additional funding will also help stimulate the economy.

“Very importantly much of this funding will have a significant impact on assisting municipalities with priority infrastructure projects, boosting our construction industry and creating jobs right across Saskatchewan,” he said.

The full breakdown of the stimulus package can be seen here.

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panews@jpbg.ca

On Twitter:@princealbertnow