BUDGET INVESTS IN INFRASTRUCTURE

Capital Budget Increases $59.8 Million, to $847.5 Million

The 2013-14 Budget provides a total of $847.5 million, a $59.8 million (7.6 per cent) increase over the previous year’s budget for schools, hospitals, highways and other much-needed infrastructure projects.

“One of the largest challenges facing a growing province like ours is addressing infrastructure needs,” Finance Minister Ken Krawetz.  “We’re meeting that challenge.

“Including this year’s capital budget, our government has invested close to $5.8 billion in infrastructure since 2008-09, more than double the investment from the previous five years.  Our Plan for Growth calls for an additional $2.5 billion over the next three years and we’re on track to meet that goal.”

The 2013-14 capital budget provides:

• $281 million for highways, including $64 million for major projects including work on the West Regina Bypass, Estevan Bypass, and a series of passing lanes on Highway 10 between Balgonie and Fort Qu’Appelle and $168 million to repair and upgrade existing highways;
• $86.5 million for Long Term Care facilities currently under construction;
• $50 million for the Moose Jaw Union Hospital replacement; and
• $126.8 million in K-12 school capital including $100.2 million for 21 ongoing major school capital projects, two new school projects at Gravelbourg and Langenburg, 15 new Pre Kindergarten facilities and 40 relocatables.

Finding innovative ways to fund infrastructure is part of the plan to address future needs.  The 2013-14 Budget provides $6.0 million for SaskBuilds to review the financial viability of public, private partnerships, or P3, opportunities, including:

• the Saskatchewan Hospital in North Battleford;
• Regina’s southeast bypass infrastructure; and
• a number of schools in high growth areas.

The Growth and Financial Security Fund, forecast to end the year with a balance of $695.1 million, will allocate $512.7 million for “Security” for unforeseen events outside of the government’s control, and will allocate funds of $182.4 million for “Growth” including future debt reduction and for needed infrastructure projects, potentially through P3s, that will benefit all Saskatchewan people.

There is $4.0 million in this budget to continue work on the University of Saskatchewan’s Health Sciences facility, as well as $4.0 million for the Southeast Regional College in Weyburn.  In addition there is $1.0 million towards the new Trades and Technology Centre at Parkland Regional College in Yorkton.

In addition, the Saskatchewan Housing Corporation budget is providing $10.0 million for the new University of Regina student residence.

There is also $11.8 million to meet the commitment for parks infrastructure, $82 million for municipal infrastructure including federal-provincial programs, and $43.4 million for courts and correctional facilities.

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For more information, contact:

Jeff Welke
Finance
Regina
Phone: 306-787-6046
Email: jeff.welke@gov.sk.ca
Cell: 306-536-1185