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Moe’s $2.5 Billion in New Debt: A Story or Bad Dream?

REGINA, SK – Saskatchewan Liberal Leader Jeff Walters says the Scott Moe government’s taking on of $2.5 billion in new debt this month is telling a story, and not a good one.

“When the provincial government takes on that much debt at one time, it means one of two things,” stated Walters. “Either their recent budget was pure fantasy, or they are not being straight with us about the financial situation of Saskatchewan.”

The $2.5 billion debt accruement comes after the 2022-23 provincial budget projected a deficit of just under $500 million. The government is the beneficiary of windfall profits from the market spike in natural resource prices, oil and gas in particular. Neither the premier nor any minister has said what the new money is for.

“Folks deserve to know why their province is taking on that much debt. They deserve to have all the information in order to determine if their government’s fiscal plans are worth mortgaging their future. Otherwise the story will turn into a bad dream.”