Premier Scott Moe announced on Wednesday the province will be investing $7.5 billion over two years in a capital plan focused on stimulating Saskatchewan’s economic recovery from the COVID-19 pandemic.
According to a media release sent out by the province, the $7.5 billion in funding represents a $2 billion increase over the government’s existing capital plan.
“Over the next two years, our government will invest $7.5 billion dollars in schools, hospitals, highways, Crown utility projects, municipal infrastructure and other important capital projects designed to build a strong Saskatchewan,” said Moe in a media release.
“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,” he added.
The plan released by the province includes a stimulus packed of $2 billion in infrastructure investments to stimulate economic recovery and encourage local job creation.
The province said planned investments include construction and major upgrades of health facilities, K-12 schools, post-secondary institutions, highways, bridges and public utility enhancements.
Of the announced funding, approximately $1.37 billion will go towards large infrastructure projects including $103 million for health and $110.5 million for education with additional allocations to be announced at a later date.
Additionally, $300 million will go towards highways projects for thin membrane surface upgrades and passing lanes. It includes $46 million dedicated for upgrades to municipal roads and airports.
According to the province, approximately $181 million will go towards renewal projects to reduce differed maintenance on provincial and third-party assets. This investment includes new allocations of $100 million for health and $25.9 million for education, with the remainder addressing priority projects in other ministries and agencies.
Also included is a $110 million in a per capita payment though a new Municipal Economic Enhancement Program which will support infrastructure projects in communities across Saskatchewan.
The province said the $7.5 billion stimulus package includes the $2.7 billion crown and executive government capital spending already accounted for in the province’s 2020-21 estimates.
