Saskatchewanians are facing a mounting financial crisis as the provincial government’s debt continues to skyrocket, according to a new report from the Canadian Taxpayers Federation. The report warns hundreds of millions of taxpayer dollars are being wasted on interest payments due to unchecked borrowing.“Hundreds of millions of taxpayers’ dollars are being wasted on debt interest payments because the government is borrowing too much money,” said Gage Haubrich, CTF Prairie Director. “The government needs a plan to find savings and dig Saskatchewan out of this financial hole.”Since 2017-18, Saskatchewan’s debt has surged 136%, while per capita debt has jumped 113%, leaving each resident with a share of roughly $18,866. Debt interest payments alone have cost taxpayers more than $5 billion since 2017-18, with the average Saskatchewanian paying about $695 per year just in interest..Premier Scott Moe has more than doubled the province’s debt during his tenure. The debt stood at $10.1 billion in 2017 and is projected to hit $23.9 billion by the end of this year. This year, the government will spend $878.4 million on interest payments — more than the combined budgets of Community Development, Transportation, General Government, Environment and Natural Resources, and Economic Development.Haubrich warned the report should serve as a wake-up call. “Saskatchewanians can’t afford any more debt. Moe needs to control spending and work to pay down Saskatchewan’s increasing debt,” he said.Despite the warning, the government has no plan to cut spending and is projecting an additional 22% increase in debt from 2025-26 to 2029-30.
